If a Phillip curve shows that unemployment is low and inflation is high in the economy, then that economy: a) is producing at its equilibrium point. b) is producing at its potential GDP. c) is...

If a Phillip curve shows that unemployment is low and inflation is high in the economy, then that economy:

a) is producing at its equilibrium point.

b) is producing at its potential GDP.

c) is producing at a point where output is more than potential GDP.

d) is producing at a point where output is less than potential GDP.