For a given expected inflation rate, the higher the unemployment rate, the lower is the actual inflation rate. This relationship is the ________ Phillips curve. When the expected inflation rate changes, this is shown as a movement along the ________ Phillips curve.
A)short-run; short-run
B)long-run; long-run
C)long-run; natural
D)natural; short-run
E)short-run; long-run

Question

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The Answer of For a given expected inflation rate, the higher the unemployment rate, the lower is the actual inflation rate. This relationship is the ________ Phillips curve. When the expected inflation rate changes, this is shown as a movement along the ________ Phillips curve.
A)short-run; short-run
B)long-run; long-run
C)long-run; natural
D)natural; short-run
E)short-run; long-run

For a Given Expected Inflation Rate, the Higher the Unemployment