In the Long Run, the Phillips Curve Will Be Vertical

question 256

Multiple Choice

In the long run, the Phillips curve will be vertical at the natural rate of unemployment if

• A) the long-run aggregate demand curve is vertical at potential output.
• B) the long-run aggregate demand curve is horizontal at the natural rate of inflation.
• C) the long-run aggregate supply curve is vertical at potential output.
• D) the long-run supply curve is horizontal at the natural rate of inflation.

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Definitions:

Medical Practice

The profession or activity of providing healthcare services, including diagnosis, treatment, and prevention of diseases.

Urinary Retention

Retention of urine in the bladder; condition frequently caused by a temporary loss of muscle function.

Impaired Swallowing

Difficulty or inability to swallow properly, which may interfere with eating and drinking.

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Excessive bleeding or the escape of blood from a ruptured blood vessel, either internally or externally.