One of the Reasons Why the Phillips Curve Is No

question 182

Multiple Choice

One of the reasons why the Phillips curve is no longer viewed as a "menu" of possible choices available to policymakers is that

• A)in the 1970s and 1980s there was no inflation at all.
• B)analysis indicates there was no such "menu" in the 1960s.
• C)in the 1970s and 1980s much inflation came from the supply side.
• D)economic theory is unable to explain the curve and, therefore, it has been rejected.

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Definitions:

Misdemeanor

A criminal offense that is less serious than a felony and typically punishable by fine, penalty, or short-term imprisonment.

Imprisonment

The act of confining someone in a prison or a similar facility as a form of punishment for committing a crime.

Reasonable Force

The minimal level of force necessary to protect oneself, prevent a crime, or apprehend a suspect legally.

Self-Defense

The right to defend oneself against physical harm, usually within the constraints of legal justification.