Which of the following did A. W. Phillips demonstrate in his famous Phillips curve? An inverse relationship between the output gap and the unemployment rate b. An inverse relationship between nominal wage inflation and the unemployment rate c. An inverse relationship between employment and the real wage d. An inverse relationship between vacancies and unemployment

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A:

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A: Given that: i = 0.124 = 0.03n = 6A = 200000to find: P = ? P = A1+in-11+ini

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A: "Correct answer is option B."

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A: The answer is - b. Increase the price level

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Q: Need fully correct solution for this asap. I'll rate positive for Correct solution.

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A: The correct answer is given in the second step.

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