The Phillips curve describes the relationship between
A) inflation and interest rates.
B) aggregate expenditure and aggregate demand.
C) unemployment and the rate of change of wages.
D) the money supply and interest rates.
E) the output gap and potential GDP.
Correct Answer:
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Q1: Which of the following would occur as
Q2: Consider an AD/AS model in long- run
Q4: Consider the AD/AS model and suppose the
Q5: Consider the basic AD/AS macro model in
Q6: What economists sometimes call the "long- run
Q7: In the long run in the AD/AS
Q8: If the economy is experiencing an inflationary
Q9: Consider the basic AD/AS macro model in
Q10: Consider the AD/AS model, and suppose that
Q11: An inflationary output gap is characterized by
A)constant
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