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.
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.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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