A Phillips curve relationship best fits the Canadian data in the

Question

Quizplus · Accepted Answer

The Phillips curve relationship best fits the Canadian data in the 1960s, as this was the period when inflation and unemployment were found to be inverse. This means that when unemployment was low, inflation tended to be high, and when unemployment was high, inflation tended to be low. This relationship held true until the mid-1970s, when stagflation and oil shocks disrupted the traditional Phillips curve relationship.

A Phillips Curve Relationship Best Fits the Canadian Data in the