The Idea That,in the Long Run,the Phillips Curve Is Vertical,implying

question 49

Multiple Choice

The idea that,in the long run,the Phillips curve is vertical,implying no trade-off between inflation and unemployment,is based on the premise that

• A)inflation and unemployment are unrelated.
• B)expectations do not adjust to reflect actual inflation.
• C)changes in unemployment do not influence real GDP.
• D)inflationary expectations fully adjust to actual inflation.
• E)inflationary expectations do not influence inflation.

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