Which of the following argued that a long-run trade-off between ...

[123654777]

Which of the following argued that a long-run trade-off between inflation and unemployment could not exist?
 
  A) Friedman and Phelps
  B) Hicks and Hansen
  C) Modigliani and Friedman
  D) Lucas and Sargent
  E) Tobin and Jorgenson

Question 2

The staggering of wage and price decisions suggests that
 
  A) people do not possess rational expectations.
  B) people do possess rational expectations.
  C) the economy will adjust slowly to shocks even if people possess rational expectations.
  D) the Lucas critique is entirely correct.
  E) real business cycle theory is correct.

[fdliggud]

Answer to Question 1

A

Answer to Question 2

C

[123654777]

Thank you

[fdliggud]

No problemo