Comparing the AS-AD model and the Phillips curve, we see that
A) they are both graphed as a relationship between the rate of inflation and the unemployment rate.
B) the Phillips curve is graphed as a relationship between the price level and the unemployment rate.
C) the AS-AD model uses the price level and the Phillips curve uses the rate of inflation.
D) the AS-AD model is graphed as a relationship between the inflation rate and the rate of real GDP.
E) the AS-AD model uses the price level and the Phillips curve uses real GDP.
Correct Answer:
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Q10: Along a short-run Phillips curve, the
A) short-run
Q11: The short-run Phillips curve is _ curve
Q12: Comparing the aggregate supply curve and the
Q13: The short-run Phillips curve shows the relationship
Q14: Q16: If the price level is 100 in Q17: According to Okun's Law, for each 1 Q18: If the economy is on its short-run
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