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In the 1960s, many economists and policy makers considered the trade-off between inflation and ...

In the 1960s, many economists and policy makers considered the trade-off between inflation and unemployment revealed in the Phillips curve to be permanent. This belief was challenged by ________, who argued that there is no trade-off between inflation and unemployment and the long run.
A) Robert Lucas and Thomas Sargent
B) Finn Kydland and Edward Prescott
C) Paul Samuelson and James Tobin
D) Milton Friedman andAnswer: Phelps

Textbook

InMacro

Edition: 1^st

Authors: Hubbard, O'Brien

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