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Detailed explanation-1: -The Phillips curve states that inflation and unemployment have an inverse relationship. Higher inflation is associated with lower unemployment and vice versa.

Detailed explanation-2: -The thinking behind the Phillips curve goes … Lower unemployment is associated with higher inflation. Higher unemployment is associated with lower inflation.

Detailed explanation-3: -The short-run Phillips curve indicates an inverse relationship between inflation and unemployment. According to the short-run Phillips curve, as unemployment goes up, inflation goes down, and as inflation goes up, unemployment goes down.