Refer to the diagram and assume the economy is initially at point b1. The long-run relationship between the unemployment rate and the rate of in?ation is represented by
A) the line connecting $b _ { 1 } \text { and } c _ { 1 } \text {. }$
B) the line through $b _ { 1 } , b _ { 2 } , b _ { 3 } , \text { and } b _ { 4 }$
C) the line connecting $c _ { 1 } \text { and } b _ { 2 } \text {. }$
D) any line parallel to the horizontal axis.

Question

Refer to the diagram and assume the economy is initially at point b1. The long-run relationship between the unemployment rate and the rate of in?ation is represented by
A) the line connecting $b _ { 1 } \text { and } c _ { 1 } \text {. }$ 
B) the line through $b _ { 1 } , b _ { 2 } , b _ { 3 } , \text { and } b _ { 4 }$ 
C) the line connecting $c _ { 1 } \text { and } b _ { 2 } \text {. }$ 
D) any line parallel to the horizontal axis.

Quizplus · Accepted Answer

The Answer of  Refer to the diagram and assume the economy is initially at point b1. The long-run relationship between the unemployment rate and the rate of in?ation is represented by
A) the line connecting $b _ { 1 } \text { and } c _ { 1 } \text {. }$ 
B) the line through $b _ { 1 } , b _ { 2 } , b _ { 3 } , \text { and } b _ { 4 }$ 
C) the line connecting $c _ { 1 } \text { and } b _ { 2 } \text {. }$ 
D) any line parallel to the horizontal axis.

Refer to the Diagram and Assume the Economy Is Initially b1 and c1. b _ { 1 } \text { and } c _ { 1 } \text {. }b1​ and c1​.

Refer to the Diagram and Assume the Economy Is Initially $b _ { 1 } \text { and } c _ { 1 } \text {. }$