A typical neoclassical aggregate supply (AS) curve ______________ and a typical neoclassical Phillips curve __________________.
A. slopes upward; slopes downward
B. is vertical; is vertical
C. is vertical; slopes downward
D. slopes upward; is vertical
Answer:B
A typical neoclassical aggregate supply (AS) curve ______________ and a typical neoclassical Phillips curve __________________.
A. slopes upward; slopes downward B. is vertical; is vertical C. is vertical; slopes downward D. slopes upward; is vertical
Explanation: Type: Multiple Choice