Answer to Question #286050 in Macroeconomics for Sheya

Question #286050

. Explain the relationship between inflation and unemployment both in the short run and long run.

1
Expert's answer
2022-01-17T12:32:03-0500

The Phillips curve shows the relationship between inflation and unemployment. In the short-run, inflation and unemployment are inversely proportional,one quantity increases while the other decreases.In the long-run, there is no trade-off.


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