During a recession, an economy typically would be operating in what portion of its simple Phillips curve?
A) upper portion with high inflation and low unemployment
B) upper portion with low inflation and high unemployment
C) lower portion with high inflation and low unemployment
D) lower portion with low inflation and high unemployment

Question

Quizplus · Accepted Answer

During a recession, an economy typically experiences low inflation and high unemployment, which corresponds to the lower portion of the simple Phillips curve.

During a Recession, an Economy Typically Would Be Operating in What