Which of the following statement(s) is/are correct?
A. Only I
B. I and II
C. II and III
D. All of the above
Answer:D
Which of the following statement(s) is/are correct?
A. Only I B. I and II C. II and III D. All of the above
Explanation: It is a graphic curve which advocates a relationship between inflation and unemployment in an economy. As per the curve there is a ‘trade off’ between inflation and unemployment i.e. an inverse relationship between them. The curve suggests that lower the inflation, higher the unemployment and higher the inflation, lower the unemployment.