Consider the following statements
1. Phillips Curve is an inverse relationship between the rate of unemployment and the rate of inflation in an economy.
2. Engel's law observes that as income rises, the proportion of income spent on food falls even if the actual expenditure on food rises.
Which of the statements given above is/are correct?

A) Only 1
B) Only 2

C) Both 1 and 2
D) Neither 1 nor 2

Correct answer:
C) Both 1 and 2


Please provide the error details in above question

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