Assertion (A) : Monetarists disagreed with the Phillips curve analysis.
Reason (R) : There are no unique correspondence of % inflation rate with % unemployment rate.
Answer from the codes below :
1
Both (A) and (R) are true and (R) is the correct explanation of (A).
2
Both (A) and (R) are true and (R) is not the correct explanation of (A).
3
(A) is true and (R) is false.
4
(A) is false and (R) is true.