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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

    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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