The relationship between inflation and unemployment suggested by the experience of the
1960s was supported by the results in the U.S. economy from 1970 to 2010.

Question

Quizplus · Accepted Answer

The relationship between inflation and unemployment in the 1960s, often described by the Phillips Curve, suggested an inverse relationship. However, the period from 1970 to 2010 in the U.S. economy saw periods of both high inflation and high unemployment (e.g., the 1970s stagflation), challenging the stability and predictability of this relationship.

The Relationship Between Inflation and Unemployment Suggested by the Experience