The Short-Run Phillips Curve and the Long-Run Phillips Curve Are

question 167

Multiple Choice

The short-run Phillips curve and the long-run Phillips curve are different because

• A) the expected rate of inflation is always zero in the long run, while it is a positive number in the short run.
• B) the expected rate of inflation is always zero in the short run, while it is a positive number in the long run.
• C) the actual and expected rate of inflation are equal in the short run.
• D) the actual and expected rate of inflation are equal in the long run.

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