The relatively low rate of inflation coupled with a low unemployment rate that occurred in the 1990s represented a "normal" economic situation.

Question

Quizplus · Accepted Answer

The combination of low inflation and low unemployment in the 1990s was unusual and defied the traditional Phillips curve, which posits an inverse relationship between inflation and unemployment, making this period an exception rather than a "normal" economic situation.

The Relatively Low Rate of Inflation Coupled with a Low