The short-run Phillips curve shows the relationship between
A. the price level and real GDP in the short run.
B. the price level and unemployment in the short run.
C. inflation and unemployment when expected inflation equals the actual inflation.
D. inflation and unemployment when expected inflation does not change.
Answer:D
The short-run Phillips curve shows the relationship between
A. the price level and real GDP in the short run. B. the price level and unemployment in the short run. C. inflation and unemployment when expected inflation equals the actual inflation. D. inflation and unemployment when expected inflation does not change.