Fiscal policy cannot be used to move the economy along the short-run Phillips curve.
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Q11: In the long run, the natural rate
Q12: Short-run outcomes in the economy can be
Q13: The classical notion of monetary neutrality is
Q14: The long-run Phillips curve is consistent with
Q15: The short-run Phillips curve is based on
Q17: In the long run, the inflation rate
Q18: Other things the same, an increase in
Q19: Neither monetary policy nor any government policy
Q20: Friedman and Phelps believed that the natural
Q21: The analysis of Friedman and Phelps argues
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