2098EconomicsMedium
If, in the long run, people adjust their price expectations so that all prices and incomes move proportionately to an increase in the price level then the long-run Phillips curve?
Ahas a slope that is determined by how fast people adjust their price expectations
Bis positively sloped
Cis vertical
Dis negatively sloped
Correct answer
C. is vertical
Explanation
The correct answer is is vertical.