The shape of the long-run Phillips curve suggests that over a ...

[beccaep]

The shape of the long-run Phillips curve suggests that over a long time horizon there is a magnified trade-off between the unemployment rate and inflation.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

If the demand for a good is perfectly inelastic, what will happen to the quantity demanded if there is a tiny increase in price?
 a. quantity demanded will increase proportionately
  b. quantity demanded will fall to zero
 c. quantity demanded will decrease proportionately
  d. quantity demanded will remain the same

[mk6555]

Answer to Question 1

False

Answer to Question 2

d