Multiple Choice Questions on When the economy is on the long run Phillips Curve we know that ........ for SEBI Grade A ( Officer) Exam Preparation

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Multiple Choice Questions

When the economy is on the long run Phillips Curve we know that ........

Economics- Phase (I & II) Inflation and Phillips Curve 
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    When the economy is on the long-run Phillips Curve, we know that

     we are at full employment.

    Incorrect Answer

    the unemployment rate is at its natural rate.

    Incorrect Answer

    any rate of inflation could be consistent with the current rate of unemployment.

    Incorrect Answer

    All of the above.

    Correct Answer
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    Explanation:

    When the economy is on the long-run Phillips Curve, we know that ,All of the above. The long-run Phillips Curve is consistent with the economy's long-run equilibrium level of output, which is the natural rate of unemployment.

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