Samuelson and Solow,in Their 1960 Study of the Phillips Curve

Multiple Choice

Samuelson and Solow,in their 1960 study of the Phillips curve as it applies to the U.S.experience,argued that there was a tradeoff between inflation and unemployment.Later experience showed their analysis to be

A) entirely correct in every situation.
B) generally correct,but it could not explain stagflation.
C) wholly wrong in every situation.
D) in general agreement with rational expectations theory.
E) capable of explaining stagflation,but not other economic scenarios.