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What development can be expected in the future rate of inflation if unemployment becoming entrenched at the 2011 level of 7-8 percent?

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What development can be expected in the future rate of inflation if unemployment becoming entrenched at the 2011 level of 7-8 percent?
Answered Same Day Dec 23, 2021

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David answered on Dec 23 2021
115 Votes
Ques :What development can be expected in the future rate of inflation if
unemployment becoming entrenched at the 2011 level of 7-8 percent?
Ans : Taking into account that unemployment becoming entrenched at the 2011
level of 7-8 %,the future rate of inflation is expected to rise only a bit. However
Okun’s Law describes a clear relationship between unemployment and National
output wherein lowered unemployment results in higher national output. Philips
showed that unemployment and Inflation shared an inverse relationship, inflation
ose as unemployment fell and vice versa.
Therefore according to...
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