The Phillips Curve & Taxation Mcqs


Q.  If, in the long run, people adjust their price expectations so that all prices and incomes move proportionately to an increase in the price level then the long-run Phillips curve ?

a. is vertical
b. is negatively sloped
c. has a slope that is determined by how fast people adjust their price expectations
d. is positively sloped


ANSWER: See Answer
 
No explanation is available for this question!
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