Economist A.W.Phillips,looking at British data,concluded that
A) there is no trade-off between inflation and unemployment.
B) high inflation rates were associated with low unemployment rates,and vice-versa.
C) unemployment could be effectively combated by raising wages.
D) higher rates of inflation are associated with higher rates of unemployment.
Correct Answer:
Verified
Q17: The Phillips curve shows
A)a positive relationship in
Q20: The rational expectations hypothesis argues that a
Q21: When the Phillips curve was first used
Q23: A Phillips curve shows
A)the relationship between the
Q24: A Phillips curve shows the relationship between
A)unemployment
Q26: One economic theory states that people combine
Q27: Changes in government policy that cause the
Q72: Deviations of the actual unemployment rate from
Q74: We observe the duration of unemployment falling
Q273: Economists Milton Friedman and E.S. Phelps suggested
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