
The Phillips curve is named after the New Zealand economist A. W. Phillips, who discovered a(n)
A) inverse relationship between the PPI and the budget deficit in the United States.
B) inverse relationship between wage rates and the unemployment rate in England.
C) inverse relationship between economic growth and the unemployment rate in England.
D) positive relationship between inflation and the unemployment rate in the United States.
E) positive relationship between the British national debt and economic downturns.
Correct Answer:
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Q1: U.S. economic data from 1955 to 2009
Q3: Most economists believe that the downward-sloping Phillips
Q4: If reservation wages and the inflation rate
Q5: The long-run Phillips curve at the natural
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