The long-run Phillips curve is a
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A policy change that changes the natural rate of unemployment changes:
a. both the long-run Phillips curve and the long-run aggregate supply curve.
b. the long-run aggregate supply curve, but not the long-run Phillips curve.
c. the long-run Phillips curve, but not the long-run aggregate supply curve.
d. neither the long-run Phillips curve nor the long-run aggregate supply curve.
a. neither the long-run Phillips curve nor the long-run aggregate supply curve.
b. both the long-run Phillips curve and the long-run aggregate supply curve.
d. the long-run aggregate supply curve, but not the long-run Phillips curve.
What is the difference between short-run Phillips Curve and the long-run Phillips curve?