The initial Phillips curve relationship implied that the opportunity cost of __________ __________ was higher __________.
A)reducing,unemployment,inflation
B)increasing,unemployment,inflation
C)reducing,unemployment,deflation
D)increasing,employment,deflation
E)reducing,employment,inflation

Question

Quizplus · Accepted Answer

The initial Phillips curve suggested a trade-off between unemployment and inflation, meaning reducing unemployment would come at the cost of higher inflation.

The Initial Phillips Curve Relationship Implied That the Opportunity Cost