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Business, 21.05.2020 00:16 janeou17xn

Friedman and Phelps concluded that:

a. in the long run the Phillips curve is downward sloping, which is consistent with classical theory.
b. in the long run the Philips curve is downward sloping, which is inconsistent with classical theory.
c. in the long run the Phillips curve is vertical, which is consistent with classical theory.
d. in the long run the Phillips curve is vertical, which is inconsistent with classical theory.

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Friedman and Phelps concluded that:

a. in the long run the Phillips curve is downward s...
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