According to macroeconomic theory, evidence that high unemployment may be accompanied by low inflation, and low unemployment may be accompanied by high inflation is supported by the:
A. neoclassical expenditure-output model.
B. Keynesian cross diagram.
C. Keynesian Phillips curve tradeoff.
D. Keynesian Inflation trade-off model.
Answer:C
According to macroeconomic theory, evidence that high unemployment may be accompanied by low inflation, and low unemployment may be accompanied by high inflation is supported by the:
A. neoclassical expenditure-output model. B. Keynesian cross diagram. C. Keynesian Phillips curve tradeoff. D. Keynesian Inflation trade-off model.
Explanation: Type: Multiple Choice