Refer to the Diagram and Assume the Economy Is Initially $b _ { 1 } \text { and } c _ { 1 } \text {. }$

question 115

Multiple Choice

Refer to the diagram and assume the economy is initially at point b1. The long-run relationship between the unemployment rate and the rate of in?ation is represented by

• A) the line connecting \(b _ { 1 } \text { and } c _ { 1 } \text {. }\)
• B) the line through \(b _ { 1 } , b _ { 2 } , b _ { 3 } , \text { and } b _ { 4 }\)
• C) the line connecting \(c _ { 1 } \text { and } b _ { 2 } \text {. }\)
• D) any line parallel to the horizontal axis.

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