The curve showing the short-run relationship between ________ and the ________ is called the Phillips curve.

Question

Quizplus · Accepted Answer

The Phillips curve shows the short-run tradeoff between the unemployment rate and the inflation rate. As unemployment falls, inflation typically rises and as unemployment rises, inflation typically falls. This relationship is often depicted as a downward-sloping curve and is known as the "Phillips curve."

The Curve Showing the Short-Run Relationship Between ________ and the ________

The Curve Showing the Short-Run Relationship Between and the