Based on economic theory, when the unemployment rate is low, the prices of goods and services decrease.
During the rise in unemployment, many people have little money to buy goods and services. This, in turn, would lead to a decrease in demand.
As demand decreases, the price of goods and services would decrease to adjust to the quantity demanded.
This situation is based on the law of demand and supply relative to their quantities.
Hence, in this case, it is concluded that the unemployment rate would affect the price of goods and services in society.
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