If, in the long run, people adjust their price expectations so that a – McqOptions

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1.	If, in the long run, people adjust their price expectations so that all prices and incomes move proportionately to an increase in the price level then the long-run Phillips curve ?
A.	is vertical
B.	is negatively sloped
C.	has a slope that is determined by how fast people adjust their price expectations
D.	is positively sloped
Answer» B. is negatively sloped

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