What does it mean to say that the Phillips curve presents policy makers with a menu of choices? According to Friedman, how do we know when the economy is in long-run equilibrium? What is a major...

What does it mean to say that the Phillips curve presents policy makers with a menu of choices? According to Friedman, how do we know when the economy is in long-run equilibrium? What is a major difference between adaptive and rational expectations? Give an example of each.