The Laffer curve is a relationship based on the presumption of an indirect relationship between government tax rates and gross domestic product (GDP)

Most spells of unemployment are long, and most unemployment observed at any given time is long-term

a. True b. False Indicate whether the statement is true or false

Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________. 

A. Rising; A B. Falling; A; C C. Falling; B: C D. Rising; A; C