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Refer to the Diagram for a Specific Economy

Question 1

Multiple Choice

Refer to the diagram for a specific economy. Which of the following best describes the relationship shown by this curve? A) The demand for labor is large when the rate of inflation is low. B) When the rate of unemployment is high, the rate of inflation is high. C) The rate of inflation and the rate of unemployment are inversely related. D) The rate of inflation and the rate of unemployment are directly related. Refer to the diagram for a specific economy. Which of the following best describes the relationship shown by this curve?


A) The demand for labor is large when the rate of inflation is low.
B) When the rate of unemployment is high, the rate of inflation is high.
C) The rate of inflation and the rate of unemployment are inversely related.
D) The rate of inflation and the rate of unemployment are directly related.

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