By about 1973, U.S. policymakers had learned that
a. Friedman and Phelps's analysis of inflation and unemployment had been correct.
b. the short-run Phillips curve shifts when expectations of inflation change.
c. there is no long-run trade-off between inflation and unemployment.
d. All of the above are correct.
d
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The 1991 Civil Rights Act specifies that individuals could not rely on statistical patterns of apparent inequality to prove discrimination, but had to offer evidence in specific employment practices
Indicate whether the statement is true or false
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A. is both process- and outcome-oriented. B. is neither process- nor outcome-oriented. C. is not a process-oriented notion of equity. D. is not an outcome-oriented notion of equity.
Government ownership of property and resources in the United States is
a. about as common as it is in European countries. b. widespread; the United States is a leader in the amount of government ownership of resources. c. relatively rare; the United States is mostly privatized. d. rare, but has been increasing rapidly as the United States catches up to other countries.
Which of the following is equivalent to the natural rate of unemployment?
A. An unemployment rate of zero percent B. The nonaccelerating inflation rate of unemployment C. The rate of cyclical unemployment D. The underemployment rate