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How are inflation and unemployment related in the short run
Chapter 1, Problem Chapters for Review 1.10(choose chapter or problem)
QUESTION:
How are inflation and unemployment related in the short run?
Questions & Answers
QUESTION:
How are inflation and unemployment related in the short run?
ANSWER:Step 1 of 3
Inflation and unemployment are depicted in the Phillips curve. The Phillips curve shows an inverse affiliation between inflation and unemployment. Thus, the Phillips curve is downward sloping.