15. During the 1960s, most economists believed that expansionary macro-policy Group of answer choices -that caused inflation would permanently reduce unemployment. -that caused inflation would permanently increase unemployment. -could not be utilized to reduce unemployment. -did not affect inflation.   Which is correct?

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Q: Explain the differences between creeping inflation and walking inflation

A: A continuous increase in the general price level in an economy is referred to as inflation.

Unemployment and Cost of Unemployment

Unemployment is the state of being unemployed, even when an individual is actively seeking work opportunities. The unemployment rate refers to the percentage of the workforce that is currently unemployed.