According to the original Phillips curve,the cost of reducing the unemployment rate in the short run is a

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The original Phillips curve states that there is an inverse relationship between unemployment and wage inflation in the short run. This means that if unemployment decreases, there will be upward pressure on wages, leading to higher wage inflation. Therefore, the cost of reducing unemployment in the short run is a higher rate of wage inflation.

According to the Original Phillips Curve,the Cost of Reducing the Unemployment