Principles of Macroeconomics 7th Edition

Published by South-Western College
ISBN 10: 1-28516-591-8
ISBN 13: 978-1-28516-591-2

Chapter 1 - Ten Principles of Economics - Questions For Review - Page 17: 10

Answer

Inflation and unemployment are negatively related in the short run. Thus, reducing inflation entails costs to society in the form of higher unemployment in the short run

Work Step by Step

You can find the answer in chapter one where it discusses about inflation and unemployment to get the gist of the concept.
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