What can be concluded from the chart below (which shows inflation versus unemployment rates from 1948 to 2015)? Inflation 121 79 rate 10 8- 6. 4- 2 0. 52 3 51 48 69 68 of 73 Average-5.8% 78 77 -790 71 74 87 86 2.06 76 .81 .75 8 92631 10 9 Unemployment rate In the short run, unemployment is not always correlated with inflation. In the long run, unemployment is not always correlated with inflation. In the short run, unemployment is correlated with inflation. In the long run, the Phillips Curve is a robust model. In the long run, unemployment is correlated with inflation.

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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What can be concluded from the chart below (which shows inflation versus unemployment rates from 1948 to 2015)?
Inflation 121
79
rate
10-
8-
6.
4-
2
0
52
3
51
69
68
48
73
.81
Average=5.8% .75
78
-790
71
051 87
6
9.77
5893
86
74
82
.76
886
92 831
8
10
709
10
9
Unemployment
rate
In the short run, unemployment is not always correlated with inflation.
In the long run, unemployment is not always correlated with inflation.
In the short run, unemployment is correlated with inflation.
In the long run, the Phillips Curve is a robust model.
In the long run, unemployment is correlated with inflation.
Transcribed Image Text:What can be concluded from the chart below (which shows inflation versus unemployment rates from 1948 to 2015)? Inflation 121 79 rate 10- 8- 6. 4- 2 0 52 3 51 69 68 48 73 .81 Average=5.8% .75 78 -790 71 051 87 6 9.77 5893 86 74 82 .76 886 92 831 8 10 709 10 9 Unemployment rate In the short run, unemployment is not always correlated with inflation. In the long run, unemployment is not always correlated with inflation. In the short run, unemployment is correlated with inflation. In the long run, the Phillips Curve is a robust model. In the long run, unemployment is correlated with inflation.
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