Author Question: The figure above shows that in 1996, unemployment was equal to about ________ and the inflation rate ... (Read 48 times)

Yolanda · **on:** Jun 29, 2018

The figure above shows that in 1996, unemployment was equal to about ________ and the inflation rate was equal to about ________.

A) 7.0 percent; 3.0 percent
B) 3.0 percent; 5.5 percent
C) 5.5 percent; 3.0 percent
D) 6.0 percent; 4.0 percent

Question 2

In the above figure, the short-run equilibrium will eventually adjust to a long-run equilibrium with a

A) lower price level and smaller real GDP
B) higher price level and larger real GDP.
C) higher price level and smaller real GDP.
D) lower price level and larger real GDP.