Only the short-run Phillips curve is downward sloping because: a in the long run, prices adjust, eliminating the relationship between inflation and unemployment. b central banks only have influence over the economy in the long run. c central banks have no influence over the economy in the short run. d in the long run, prices are sticky, eliminating the relationship between inflation and unemployment. e long-run effects of monetary policy are negated by fiscal policy.
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Home » Business » Only the short-run Phillips curve is downward sloping because: a in the long run, prices adjust, eliminating the relationship between inflation and unemployment. b central banks only have influence over the economy in the long run.