Economists Who Argue That the AS Curve Is Vertical in the Long

question 68

Multiple Choice

Economists who argue that the AS curve is vertical in the long run at potential GDP also argue that the Phillips curve in the long run is

• A) vertical at the natural rate of unemployment.
• B) upward sloping.
• C) downward sloping.
• D) horizontal at the natural rate of inflation.

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Definitions:

Co-Optation

The process of absorbing new ideas or movements into existing structures to neutralize or mitigate their impact.

Washing

A critique often attached to terms like "greenwashing" or "whitewashing," implying superficial commitments or efforts by organizations to seem more socially responsible or inclusive than they are.

Environmental Commitment

A pledge or policy adopted by individuals, organizations, or governments to act in ways that protect the environment and promote sustainability.