What Can Be Concluded from Milton Friedman and Edmund Phelps

question 40

Multiple Choice

What can be concluded from Milton Friedman and Edmund Phelps' expectations-augmented Phillips curve?

• A)that there is a long run tradeoff between unemployment and inflation
• B)that there is a short run tradeoff between unemployment and inflation
• C)that inflation is positively related to the unemployment gap
• D)all of the above
• E)none of the above

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