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    Question

    If input prices adjusted very rapidly to

    output prices as classical economists argue the Phillips cure would be
    A Vertical or nearly vertical Correct Answer Incorrect Answer
    B Upward sloping Correct Answer Incorrect Answer
    C Downward sloping Correct Answer Incorrect Answer
    D Horizontal or nearly horizontal Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    If input prices adjusted very rapidly to output prices as classical economists argue the Phillips cure would be vertical or nearly vertical.

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