run Phillips curve shows the tradeoff between ________, holding the expected inflation rate and the natural unemployment rate constant.
A)inflation and employment
B)the price level and unemployment
C)the price level and real GDP
D)inflation and unemployment

Question

Quizplus · Accepted Answer

The Phillips curve illustrates the inverse relationship between inflation and unemployment, assuming constant expected inflation and natural unemployment rate.

Run Phillips Curve Shows the Tradeoff Between ________, Holding the Expected