Only the Short-Run Phillips Curve Is Downward Sloping Because

question 9

Multiple Choice

Only the short-run Phillips curve is downward sloping because

• A) in the long run,prices adjust,eliminating the relationship between inflation and unemployment.
• B) in the long run,prices are sticky,eliminating the relationship between inflation and unemployment.
• C) central banks have no influence over the economy in the short run.
• D) central banks only have influence over the economy in the long run.
• E) long-run effects of monetary policy are negated by fiscal policy.

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