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A vertical aggregate supply curve implies a vertical Phillips curve.

Skizzle234

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A vertical aggregate supply curve implies a vertical Phillips curve.

Question 1.

If the economy is at potential output, actual inflation

▸ is greater than expected inflation.

▸ equals expected inflation.

▸ is less than expected inflation.

▸ equals the natural rate of unemployment.

Question 2.

A vertical aggregate supply curve implies a vertical Phillips curve.

▸ true

▸ false

Textbook

Principles of Economics

Edition: 12^th

Authors: Case, Fair, Oster

Read 64 times

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DWFG2796

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Skizzle234 Author

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