When a nation totally bans trade with another country, it is imposing a(n):

Along a given ________ Phillips curve, a lower unemployment rate can be achieved only by paying the cost of a ________ inflation rate, and a lower inflation rate can be achieved only by paying the cost of a ________ unemployment rate

A) long-run; higher; lower B) short-run; higher; lower C) long-run; higher; higher D) short-run; lower; higher E) short-run; higher; higher

How do firms and households interact within the context of the circular flow model?

What will be an ideal response?