Contrary to what the Phillips curve would have predicted,the U.S.economy in the 1970s experienced simultaneous increases in inflation and unemployment.

Name: Contrary to what the Phillips curve would have predicted,the U.S.economy in the 1970s experienced simultaneous increases in inflation and unemployment.
Brand: Quizplus
Rating: 4.8 (37 reviews)

Question

Quizplus · Accepted Answer

This phenomenon was known as "stagflation" and challenged the traditional understanding of the Phillips curve, which suggested a trade-off between inflation and unemployment.

Contrary to What the Phillips Curve Would Have Predicted,the U