Comparing the Aggregate Supply Curve and the Short-Run Phillips Curve

question 67

Multiple Choice

Comparing the aggregate supply curve and the short-run Phillips curve, we see that they

• A)both exist since money wages are flexible.
• B)describe the same phenomena but contradict each other.
• C)both exist because money wage rate is fixed in the short run.
• D)each describe different parts of the economy.
• E)both exist because real wage rate is fixed in the short run.

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