Question

There is a
short-run tradeoff between inflation and

unemployment.

short-run tradeoff between the actual unemployment rate and the natural rate of unemployment.

long-run tradeoff between inflation and unemployment.

long-run tradeoff between the actual unemployment rate and the natural rate of unemployment.

Which of the following statements is correct?

In the short run, unemployment and inflation are positively related. In the long run they are largely unrelated problems.

Inflation and unemployment are positively related in the short run and in the long run.

In the short run, unemployment and inflation are negatively related. In the long run they are largely unrelated problems.

Inflation and unemployment are negatively related in the short run and in the long run.

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