Friedman and Phelps believed that the natural rate of unemployment was constant.
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Q15: The short-run Phillips curve is based on
Q16: Fiscal policy cannot be used to move
Q17: In the long run, the inflation rate
Q18: Other things the same, an increase in
Q19: Neither monetary policy nor any government policy
Q21: The analysis of Friedman and Phelps argues
Q22: The natural rate of unemployment is the
Q23: A rightward shift of the short-run aggregate-supply
Q24: A central bank announces it will decrease
Q25: According to the Friedman-Phelps analysis, in the
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