The long-run upward-sloping aggregate demand curve implies an upward-sloping Phillips curve; thus, there is a tradeoff between inflation and unemployment in the short run when it comes to government policy.

Select whether the statement is true or false.
A. True
B. False


B. False
This statement is false. The short-run upward-sloping aggregate supply curve implies a downward-sloping Phillips curve; thus, there is a tradeoff between inflation and unemployment in the short run when it comes to government policy.

Economics

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Fill in the blank(s) with the appropriate word(s).

Economics