Table 35-1An economist working for the Central Bank of Fredonia estimates a Phillips curve for Fredonia and reports the following points onActual Inflation Rate(Percent)5432Unemployment Rate(Percent)4.04.55.05.5Refer to Table 35-1. Which of the following statements is correct?Oa. These points are consistent with the theoretical short-run Phillips curve, but now with the long-run Phillips curve.Ob. These points are consistent with both the theoretical short-run and long-run Phillips curves.Oc. These points are not consistent with either the theoretical short-run or long-run Phillips curves.Od. These points are consistent with the theoretical long-run Phillips curve, but not with the short-run Phillips curve.

Actual Inflation Rate (Percent) 5 4 3 2 Unemployment Rate (Percent) 4.0 4.5 5.0 5.5 Refer to Table 35-1. Which of the following statements is correct? Oa. These points are consistent with the theoretical short-run Phillips curve, but not with the long-run Phillips curve. Ob. These points are consistent with both the theoretical short-run and long-run Phillips curves. Oc. These points are not consistent with either the theoretical short-run or long-run Phillips curves. Od. These points are consistent with the theoretical long-run Phillips curve, but not with the short-run Phillips curve.

Actual Inflation Rate (Percent) 5 4 3 2 Unemployment Rate (Percent) 4.0 4.5 5.0 5.5 Refer to Table 35-1. Which of the following statements is correct? Oa. These points are consistent with the theoretical short-run Phillips curve, but not with the long-run Phillips curve. Ob. These points are consistent with both the theoretical short-run and long-run Phillips curves. Oc. These points are not consistent with either the theoretical short-run or long-run Phillips curves. Od. These points are consistent with the theoretical long-run Phillips curve, but not with the short-run Phillips curve.

Principles of Economics, 7th Edition (MindTap Course List)

7th Edition

ISBN:9781285165875

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter35: The Short-Run Trade-off Between Inflation And Unemployment

Section: Chapter Questions

Problem 3QCMC

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