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Phillip’s Curve

Consider the following statements with respect to the Phillip’s Curve:

  1. It represents inverse relationship between inflation rate and unemployment rate.
  2. It says that high levels of employment can be achieved only at high levels of inflation.

Choose the correct answer from the code given below:

A
Only 1
B
Only 2
C
. Both 1 and 2
D
Neither 1 nor 2