increases in health care costs on the health of individuals in society. Oo the p
ID: 1125221 • Letter: I
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increases in health care costs on the health of individuals in society. Oo the personal income tax on a person's ability to purchase goods and services. Od pollution from a factory on the health of people in the vicinity of the factory. QUESTION 3 The tradeoff between inflation and unemplo å- implies that policies designed to reduce unemployment also reduce inflation. was eliminated by improved economic policies in the 1900s. O C is a long-run tradeoff, persisting for decades, according to most economists. O d. None of the above are correct. QUESTION 4 The "invisible hand" works to promote general well-being in the economy primarily through O a government intervention Ob. altruism.Explanation / Answer
E.
Downward sloping Phillips curve shows inverse relation between inflation and unemployment.
While in Long run, the curve becomes vertical.
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