Both Classicals and Keynesians Agree That Policymakers

question 21

Multiple Choice

Both classicals and Keynesians agree that policymakers

• A)can exploit the Phillips curve in the short run.
• B)cannot exploit the Phillips curve in the short run.
• C)can keep the unemployment rate permanently below the natural rate by permanently running a high rate of inflation.
• D)cannot keep the unemployment rate permanently below the natural rate by permanently running a high rate of inflation.

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Definitions:

Christianity

A monotheistic religion based on the life and teachings of Jesus Christ and the writings of the Bible.

Immortality

The concept of eternal life, being exempt from death, or living indefinitely.

Fertility

The natural capability to produce offspring.

Time Order

An organizational method used in writing and speaking where information is presented in the sequence of when events occurred.