For all points below the 45-degree line, planned aggregate expenditure will be less than GDP

A plot of points representing the rate of inflation and the unemployment for the United States since 1953 reveals that

A) there does not appear to be any trade-off between the two variables. B) there is an inverse relationship between the two variables. C) there is a positive relationship between the two variables. D) none of the above.

In the mid 1980s, the massive current account deficits were related to massive U.S. government budget deficits

Indicate whether the statement is true or false