The following question are based on the following graph, which shows two different Phillips curves, labeled (1) and (2):

-Phillips curves (1)and (2)are examples of ________ Phillips curves.
A) equilibrium
B) accelerated
C) natural
D) short-run
E) substandard

Question

The following question are based on the following graph, which shows two different Phillips curves, labeled (1) and (2):
 
-Phillips curves (1)and (2)are examples of ________ Phillips curves.
A) equilibrium 
B) accelerated 
C) natural 
D) short-run 
E) substandard

Quizplus · Accepted Answer

Phillips curves (1) and (2) are examples of short-run Phillips curves, which illustrate the short-term trade-off between inflation and unemployment.

The Following Question Are Based on the Following Graph, Which