In the long run, the Phillips curve will be vertical at the natural rate of unemployment if ?

Related Mcqs:

The expectations augmented Phillips curve was the Work of which group of economists ?

A. New classical economists B. Keynesian. C. Monetarists D. Marxists....

An unspoken agreement between workers and firms that the firm will not cut wages is known as ?

A. an implicit or social contract B. a relative-wage contract C. employment at will D. an explicit contract...

Even though explicit contracts may lead to layoffs during recessions explicit contracts may still be efficient because such contracts ?

A. minimize negotiation costs B. minimize unemployment effects C. guarantee that only the least productive workers will be laid off. D. will equitable spread the layoffs among junior and senior workers...

The Phillips curve indicates that there is a ?

A. negative relationship between the inflation rate and labor demand B. positive relationship between labor supply and the inflation rate C. positive relationship between the inflation rate and the employment the D. negative relationship between the inflation rate and the unemployment rate...

If input price prices adjusted very rapidly to output prices as classical economists argue the Philips curve would be ?

A. Vertical or nearly vertical B. upward sloping C. downward sloping D. horizontal or nearly horizontal...