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How are inflation and unemployment related in the short run

Chapter 1, Problem Chapters for Review 1.10

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QUESTION:

How are inflation and unemployment related in the short run?

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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.

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