Question: What is the difference between the short-run Phillips curve (SRPC) and the long-run Phillips curve (LRPC)? (A) The SRPC is downward sloping and the LRPC

What is the difference between the short-run Phillips curve (SRPC)

and the long-run Phillips curve (LRPC)?

(A) The SRPC is downward sloping and the LRPC is horizontal.

(B) The SRPC is upward sloping and the LRPC is downward sloping.

(C) The SRPC is vertical and the LRPC is horizontal.

(D) The SRPC is downward sloping and the LRPC is vertical.

(E) The SRPC is downward sloping and the LRPC is upward sloping.

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