If Employees and Employers Always Accurately Predict Inflation, What Is

question 88

Multiple Choice

If employees and employers always accurately predict inflation, what is the shape of the Phillips curve?

• A)It is horizontal in the short and long run.
• B)It is vertical in the short and 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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