what is inflation and a fall in unemployment
There are arguments relating inflation and unemployment. For example, inflation causes real wages to fall without cuts in nominal wages, which are difficult. Therefore it allows more efficient pricing of labor, and less unemployment. Or, falling unemployment allows workers to demand wage increases, which are passed along as price increases and inflation.
Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output. A steady rate of monetary growth at a moderate level can provide a framework under which a country can have little inflation and much growth.