The notion that there is a tradeoff between inflation and unemployment is expressed as an efficiency wage curve.
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Q105: A Phillips phase of the inflation-unemployment relationship
Q106: In the long run, the major cause
Q107: If the efficiency wage theory holds,
A) wage
Q108: Structural unemployment is best reduced by
A) job
Q109: For a given labor force, an increase
Q111: The efficiency-wage theory holds that the market
Q112: In the recovery phase of the inflation-unemployment
Q113: A Phillips phase emerges because wages are
Q114: Expectations of higher inflation rates cause a
Q115: The relationship between inflation and unemployment suggested
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