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A typical Keynesian aggregate supply (AS) curve _______________ and a typical Keynesian Phillips curve _____________.

1 Answer

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Answer:

1. Slopes upward

2. Slopes downward

Step-by-step explanation:

Keynesian aggregate supply is an economic model that depicts a curve is upward sloping as a result of low elasticity of wages and prices in the short-run.

On the other hand, the Keynesian Phillips curve is a graphical representation of an economy, whereby there is downward sloping of the curve, which indicates the tradeoff between unemployment and inflation.

Hence, the right answer is a typical Keynesian aggregate supply (AS) curve SLOPES UPWARD and a typical Keynesian Phillips curve SLOPES DOWNWARD

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