The Phillips curve implied that there was a trade- off available to governments between:
A)The price level and unemployment
B)The price level and employment
C)Out put and employment
D)Inflation and unemploymen t

Question

Quizplus · Accepted Answer

The Phillips curve suggests a trade-off between inflation and unemployment, implying that lower unemployment comes with higher inflation and vice versa.

The Phillips Curve Implied That There Was a Trade- Off