Explanation Every economy faces the economic evils such as unemployment and inflation rate. Both these are the economic evils that every economy tries to reduce. They are inversely related, which means that when the economy tries to reduce inflation, it will cause more unemployment and vice versa. Option (b): The inflation rate and the unemployment rate in the economy are inversely related with each other. This means that when the policies to reduce any one are implemented, it would lead to the increase in the other. This inverse relation between unemployment and inflation in the economy is illustrated with the help of the Phillips curve. But in the long run, the Phillips curve will have a vertical straight line shape because of the fact that the economy would reach its natural rate equilibrium level of unemployment in the economy. Thus, any policies to reduce unemployment will not be successful in reducing the unemployment and would only lead to increase in inflation. Thus, it means that option 'b' is the correct answer. Option (a): The economy would self-correct itself toward the natural rate of unemployment in the long-run period...