Question 5 (i) In general when unemployment falls we can expect ______________. A: inflation to rise B: inflation to fall C: inflation to remain constant D: no relationship between unemployment and inflation (ii) We face trade-offs in our daily life because of _______________. A: scarcity B: efficiency C: equality D: incentive

Principles of Microeconomics
7th Edition
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter1: Ten Principles Of Economics
Section: Chapter Questions
Problem 6CQQ
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Question 5

(i) In general when unemployment falls we can expect ______________.

A: inflation to rise

B: inflation to fall

C: inflation to remain constant

D: no relationship between unemployment and inflation

(ii) We face trade-offs in our daily life because of _______________.

A: scarcity

B: efficiency

C: equality

D: incentive

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