The Phillips curve shows that at least in the short term, reductions in the inflation rate must be accompanied by increases in unemployment.

Name: The Phillips curve shows that at least in the short term, reductions in the inflation rate must be accompanied by increases in unemployment.
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The Phillips curve depicts an inverse relationship between inflation and unemployment in the short term, indicating that decreasing inflation necessitates increasing unemployment, and vice versa.

The Phillips Curve Shows That at Least in the Short