According to the short-run Phillips curve, the unemployment rate and the inflation rate are: C. negatively related.
What is the Phillips curve?
Phillips curve can be defined as an economic theory which states that there exist an inverse (negative) relationship between the rate of unemployment and inflation rate in a particular economy and at a given period of time.
This ultimately implies that, the unemployment rate and inflation rate share an inverse relationship (negatively related) according to the short-run Phillips curve.
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