In the short run, what does the tenth principle of economics illustrate?
A) the tradeoff between inflation and unemployment
B) the tradeoff between equity and efficiency
C) labour productivity in an economy
D) the level of government intervention in a market economy

Question

Quizplus · Accepted Answer

The tenth principle of economics illustrates the tradeoff between inflation and unemployment, often referred to as the Phillips curve in the short run.

In the Short Run, What Does the Tenth Principle of Economics