A. trade off implies that contractionary fiscal and monetary policy are effective in reducing unemployment but at the expense of higher rates of inflation.
B. trade off implies that expansionary fiscal and monetary policies are effective in simultaneously reducing unemployment and inflation.
C. trade off apparently has not existed since the late 1980's
D. Trade off implies that when employment is low, inflation tends to be high
The Phillips curve:?
C. trade off apparently has not existed since the late 1980's
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