Milton Friedman and Edmund Phelps Contributed Which Insight(s)to Phillips Curve

question 83

Multiple Choice

Milton Friedman and Edmund Phelps contributed which insight(s) to Phillips curve analysis?

• A)that a "realistic" goal of 7% unemployment and 6% to 7% inflation rates could be achieved
• B)that,in the long run,sticky wages and staggered prices prevent unemployment from remaining low
• C)that firms and workers care about real wages
• D)all of the above
• E)none of the above

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Definitions:

Valid Delegation

The legal principle that allows a person to transfer their duties to another party, provided the action is authorized and the delegate is qualified.

Expressed Intent

The explicitly stated purpose or goal of an individual or entity, made clear through verbal or written communication.

Intended Third-party

Someone who, although not a direct participant in a contract or agreement, stands to benefit from the execution of the agreement.

Incidental Third-party

A person or entity indirectly involved or unintentionally benefited by a transaction or contract between two other parties.