A Phillips Curve that has a negative slope is consistent with

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An upward sloping aggregate supply curve implies that as output increases, the price level also increases. A negative sloped Phillips Curve implies an inverse relationship between unemployment and inflation. As unemployment decreases, inflation increases. This is consistent with an upward sloping aggregate supply curve, as a decrease in unemployment increases output, and hence increases the price level.

A Phillips Curve That Has a Negative Slope Is Consistent