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    Question

    Which of the following statements is incorrect regarding

    Phillips’s 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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