

MCQOPTIONS
Saved Bookmarks
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 | |