If Actual Inflation Differs from Expected Inflation, What Is the Slope

question 37

Multiple Choice

If actual inflation differs from expected inflation, what is the slope of the Phillips curve?

• A)It is horizontal in the short and long run.
• B)It is upward sloping in the short run and vertical in the long run.
• C)It is vertical in the short run and upward sloping in the long run.
• D)It is downward sloping in the short run and vertical in the long run.

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A country located in North America, consisting of 50 states, a federal district, five territories, and various possessions.