Friedman and Phelps Concluded That

question 119

Multiple Choice

Friedman and Phelps concluded that

• A)in the long run the Phillips curve is downward sloping,which is consistent with classical theory.
• B)in the long run the Philips curve is downward sloping,which is inconsistent with classical theory.
• C)in the long run the Phillips curve is vertical,which is consistent with classical theory.
• D)in the long run the Phillips curve is vertical,which is inconsistent with classical theory.