In the original Phillips curve analysis, stagflation would be impossible.

Name: In the original Phillips curve analysis, stagflation would be impossible.
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This is because the original Phillips curve analysis assumed a trade-off between inflation and unemployment, meaning that when unemployment was low, inflation would rise and vice versa. Stagflation, which is a combination of high inflation and high unemployment, was not considered in this framework.

In the Original Phillips Curve Analysis, Stagflation Would Be Impossible