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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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