Which of the Following Describes the Distinction Between the Phillips

question 47

Multiple Choice

Which of the following describes the distinction between the Phillips curve and the AS curve?

• A)The AS curve has the price level on the vertical axis whereas the Phillips curve has the interest rate on the vertical axis.
• B)The AS curve has the price level on the vertical axis whereas the Phillips curve has the rate of change in the interest rate on the vertical axis.
• C)The AS curve has the price level on the vertical axis whereas the Phillips curve has the rate of wage changes on the vertical axis.
• D)The AS curve has the rate of price inflation on the vertical axis whereas the Phillips curve has the rate of wage changes on the vertical axis.
• E)There is no distinction: the two curves are essentially the same thing.

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