Since the 1970s, the Phillips curve has:
A)remained stable.
B)moved in a clockwise direction.
C)been unstable.
D)been used as a reliable model to guide public policy.

Question

Quizplus · Accepted Answer

Since the 1970s, the Phillips curve has been considered unstable due to the breakdown of the inverse relationship between inflation and unemployment, influenced by factors such as supply shocks and changes in inflation expectations.

Since the 1970s, the Phillips Curve Has