Economist A.W.Phillips found a negative correlation between wage inflation and unemployment.
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Q5: Demand-side inflation is the rise in inflation
Q6: Along a short-run Phillips curve, a higher
Q7: Demand-side inflation is usually accompanied by increasing
Q8: An economy eliminates a recessionary gap by
Q9: The Phillips curve assumes that shocks to
Q11: A supply shock is an event that
Q12: If fluctuations in economic activity emanate from
Q13: The U.S.economy in the 1990s benefited from
Q14: If aggregate demand grows faster than aggregate
Q15: The economy's self-correcting mechanism ensures that neither
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