Phillips's discovery in the UK was supported by a similar negative correlation between inflation and unemployment in data for the United States.
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Q12: Okun's law tells us that greater output
Q13: A typical estimate of the sacrifice ratio
Q14: Samuelson and Solow reasoned that the trade-off
Q15: The natural rate hypothesis states that if
Q16: According to rational expectations theory, a credible
Q18: According to Friedman and Phelps, which of
Q19: The Phillips curve is the short-run relationship
Q20: Friedman and Phelps concluded that there is
Q21: The natural rate of unemployment is:
A)the non-acceleration
Q22: A vertical long-run Phillips curve occurs at
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