What Can Be Concluded from Milton Friedman and Edmund Phelps

question 73

Multiple Choice

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

• A)that there is no long run tradeoff between unemployment and inflation
• B)that there is a short run tradeoff between unemployment and inflation
• C)that there are two types of Phillips curves
• D)all of the above
• E)none of the above

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Definitions:

Compulsion

An uncontrollable urge to perform an act, often repetitively, as a way of relieving anxiety.

Excessive Fear

Excessive Fear is an overly intense and often irrational reaction to a perceived threat, which can interfere with normal functioning and lead to anxiety disorders.

Medical Basis

This phrase suggests an underlying biological or health-related reason for a condition or phenomenon.

Obsessive-Compulsive Disorder

Obsessive-Compulsive Disorder (OCD) is a mental health disorder characterized by recurrent, unwanted thoughts (obsessions) and/or repetitive behaviors (compulsions) that the person feels driven to perform.