Question
Which of the following is true about the NK Phillips curve? A.Inflation is negatively dependent on the expected future inflation. B.Inflation arises from firms' optimal
Which of the following is true about the NK Phillips curve?
A.Inflation is negatively dependent on the expected future inflation.
B.Inflation arises from firms' optimal price adjustments.
C.Inflation is determined by the market clearing condition in the output market.
D.One should expect that inflation is low, since not all firms can adjust prices in any period.
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Macroeconomics
Authors: N. Gregory Mankiw, William M. Scarth
5th Canadian Edition
1464168504, 978-1464168505
