According to the ________ Phillips curve,the unemployment rate and the inflation rate are negatively related.

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The short-run Phillips curve states that there is a negative relationship between unemployment and inflation in the short run. This means that when unemployment is low, there will be upward pressure on prices as companies compete for workers, leading to inflation. Conversely, when unemployment is high, there will be downward pressure on prices as companies have fewer workers to compete for, leading to lower inflation. The long-run Phillips curve, on the other hand, suggests that in the long run, the relationship between unemployment and inflation disappears, as people's expectations of inflation adjust to changes in the unemployment rate.

According to the ________ Phillips Curve,the Unemployment Rate and the Inflation