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  3. if the phillips curve is usually correct, then an

If the Phillips curve is usually correct, then an increase in output and a corresponding decrease...

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Economics

If the Phillips curve is usually correct, then an increase inoutput and a corresponding decrease in unemployment would beunusual.

Select one:

True

False

The correlation between unemployment and inflation can beexplained by upward pressure on wages and prices when unemploymentis low.

Select one:

True

False

According to the natural rate hypothesis (Friedman and Phelps),in the long run, monetary growth did not influence those factorsthat determine the economy’s unemployment rate.

Select one:

True

False

A fiscal policy that reduces the amount of cyclical unemploymentwould affect the long run Phillips curve but not the short-runPhillips curve.

Select one:

True

False

Many economists during the 1960s believed the implications ofthe Phillips curve, which offered policymakers a menu of possibleeconomic outcomes from which to choose and the choice forexpansionary policy would lead to inflationary pressure but reducedunemployment.

Select one:

True

False

Answer & Explanation Solved by verified expert
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Q If the Phillips curve is usually correct then an increase in output and a corresponding decrease in unemployment would be unusual Answer True Q The correlation between unemployment    See Answer
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