The trade-off between the unemployment rate and inflation depicted by the Phillips curve has led to the concept of:
A) Laffer curve.
B) NAIRU.
C) stagflation.
D) Phillips curve.

Question

Quizplus · Accepted Answer

NAIRU (Non-Accelerating Inflation Rate of Unemployment) is the concept that represents the level of unemployment at which inflation does not accelerate, stemming from the trade-off depicted by the Phillips curve.

The Trade-Off Between the Unemployment Rate and Inflation Depicted by the Phillips