The notion that there is a tradeoff between inflation and unemployment is expressed as a
A) Phillips curve.
B) Keynes curve.
C) Schumpeter curve.
D) Friedman curve.

Question

Quizplus · Accepted Answer

The concept that there is an inverse relationship between inflation and unemployment was first introduced by economist A.W. Phillips and is commonly known as the Phillips curve. The Phillips curve suggests that as unemployment decreases, inflation tends to increase and vice versa, indicating a trade-off between the two.

The Notion That There Is a Tradeoff Between Inflation and Unemployment