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.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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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.

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