Sec 35.2 MC Shifts in the Phillips Curve The Role of Expectations
Sec 35.2 MC Shifts in the Phillips Curve The Role of Expectations
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时间:2019-09-22
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1、1. In1968,economistMiltonFriedmanpublishedapapercriticizingthePhillipscurveonthegroundsthat a. itseemedtoworkforwagesbutnotforinflation. b. monetarypolicywasineffectiveincombatinginflation. c. thePhillipscurvedidnotapplyinthelongrun. d. Phillipshadmadeerrorsincollectinghisdata.ANSWER: cDIFFI
3、dPhelpspublishedapaperthat a. arguedthattherewasnolong-runtradeoffbetweeninflationandunemployment. b. disprovedFriedman'sclaimthatmonetarypolicywaseffectiveincontrollinginflation. c. showedtheoptimalpointonthePhillipscurvewasatanunemploymentrateof5percentandaninflationrateof2percent. d. argue
5、geCUSTOM ID: 002.35.2-MC-MANK083. Inthelate1960s,MiltonFriedmanandEdmundPhelpsarguedthat a. thetrade-offbetweeninflationandunemploymentdidnotapplyinthelongrunThisclaimisconsistentwithmonetaryneutralityinthelongrun. b. thetrade-offbetweeninflationandunemploymentdidnotapplyinthelongrun.Thiscla
6、imisinconsistentwithmonetaryneutralityinthelongrun. c. thetrade-offbetweeninflationandunemploymentappliedinboththeshortrunandthelongrun.Thisclaimisconsistentwithmonetaryneutralityinthelongrun. d. thetrade-offbetweeninflationandunemploymentappliedinboththeshortrunandthelongrun.Thisclaimisincon