Suppose That in 2018 and 2019, Households and Firms Reduced

Suppose that in 2018 and 2019, households and firms reduced desired expenditures. During the same period inflation fell and unemployment rose.

A) The change in inflation, but not the change in unemployment, is consistent with what a given short-run Phillips curve implies.
B) The change in unemployment, but not the change in inflation, is consistent with what a given short-run Phillips curve implies.
C) Both the change in inflation and the change in unemployment are consistent with what a given short-run Phillips curve implies.
D) Neither the change in inflation nor the change in unemployment are consistent with what a given short-run Phillips curve implies.