US Data on Unemployment and Inflation in the 1970s

question 38

Multiple Choice

U.S. data on unemployment and inflation in the 1970s

• A) led economists to place greater emphasis on the Phillips curve as a policy tool.
• B) led to the belief that the Phillips curve may shift over time.
• C) led to a dismissal of the adaptive-expectations theory.
• D) enforced the belief that inflation is constant over time.
• E) led to the belief that the Phillips curve is horizontal over time.

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