Which of the following is true of the long-run Phillips curve a. It shows a negative
Chapter 0, Problem 51(choose chapter or problem)
Which of the following is true of the long-run Phillips curve? a. It shows a negative relationship between the unemployment rate and the inflation rate. b. It shows a negative relationship between the unemployment rate and the interest rate. c. It shifts upward when expected inflation increases. d. It is vertical at the natural rate of unemployment. e. It shifts to the right when the Federal Reserve pursues expansionary monetary policy
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