Samuelson and Solow,in their 1960 study of the Phillips curve as it applies to the U.S.experience,argued that there was a tradeoff between inflation and unemployment.Later experience showed their analysis to be

Question

Quizplus · Accepted Answer

While Samuelson and Solow's analysis of the Phillips curve was generally correct, it could not explain the occurrence of stagflation in the 1970s when both inflation and unemployment were high. Thus, option B is the most appropriate answer.

Samuelson and Solow,in Their 1960 Study of the Phillips Curve