In the recovery phase of the inflation-unemployment cycle, a falling rate of inflation means That the price level is

Question

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In the recovery phase of the inflation-unemployment cycle, a falling rate of inflation indicates that prices are still rising, but by smaller and smaller percentages. This means that the inflation rate is decreasing, or falling at a decreasing rate, which is represented by choice C.

In the Recovery Phase of the Inflation-Unemployment Cycle, a Falling