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The Phillips curve shows a negative relationship between inflation and unemployment. So, according to the Phillips curve, when inflation increases, unemployment decreases and vice versa.
The Phillips curve shows a negative relationship between inflation and unemployment. So, according to the Phillips curve, when inflation increases, unemployment decreases and vice versa. If you had to design an economic policy and to choose between unemployment and inflation, what is the best choice to choose: more unemployment and less inflation or less unemployment and high inflation?" Please discuss
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