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      Question

      Which of the following statements is incorrect

      regarding PhillipsтАЩs curve?
      A High inflation and high unemployment are because of recession/depression Correct Answer Incorrect Answer
      B As per Friedman, there is no relation between unemployment and inflation in the long-run Correct Answer Incorrect Answer
      C It depicts relationship between inflation rate and unemployment rate Correct Answer Incorrect Answer
      D None of these Correct Answer Incorrect Answer
      E All of these Correct Answer Incorrect Answer

      Solution

      High inflation and high unemployment are because of stagflation

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