A) Inflation and wage rise
B) Inflation and unemployment
C) Stagflation and deflation
D) Demand and supply of goods
Correct Answer: B
Solution :
[b] In economics, the Phillips curve is a historical inverse relationship between rates of unemployment and corresponding rates of inflation that result in an economy. Stated simply, decreased unemployment, (i.e., increased levels of employment) in an economy will correlate with higher rates of inflation.
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