Consider Australian Data for Inflation and Unemployment Rates for the Last

question 87

Multiple Choice

Consider Australian data for inflation and unemployment rates for the last five decades. Which of the following statements correctly describes the relationship between the two variables?

• A)Several different short- run Phillips curves representing different natural unemployment rates and different expected inflation rates existed.
• B)There is a positive relationship.
• C)The natural unemployment rate did not change but the expected inflation rate did change over these years.
• D)None of the above answers is correct.

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