The short-run Phillips curve is ________ than the long-run Phillips curve
A) flatter B) steeper
C) less stable D) Both B and C are correct.
A
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According to the Keynesian IS—LM model, what is the effect of each of the following on output, the real interest rate, employment, and the price level? Distinguish between the short run and the long run
(a) Expected inflation rises. (b) Wealth increases. (c) Labor supply decreases due to a change in demographics. (d) The future marginal product of capital decreases.
When aggregate demand intersects aggregate supply in its vertical segment, unemployment will result
Indicate whether the statement is true or false
IMF advice to countries such as Russia and Argentina that suffer from exchange rates crises often requires these countries to adopt
a. fixed exchange rates. b. expansionary monetary policies. c. contractionary monetary policies. d. state ownership of industry.
A duty of economists at the Department of Labor is to
a. analyze data on workers. b. schedule federal holidays. c. enforce the nation's antitrust laws. d. All of the above are correct.