FIGURE 14minus4 Refer to Figure 14minus4, part (ii). If the AS curve continues to drift upward during Phase 2 of the disinflation process, the economy will experience Question content area bottom Part 1 A. rising real wages and factor prices and rising employment. B. a falling price level and falling output. C. falling real wages and factor prices and falling unemployment. D. falling unemployment and rising output. E. rising unemployment and falling output