The Phillips curve describes a negative relationship between unemployment and inflation.

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The Phillips curve is an economic concept that shows a negative relationship between the rate of unemployment and the rate of inflation in an economy. As unemployment decreases, inflation tends to rise, and vice versa. This relationship is often described as a trade-off, implying that policies aimed at reducing unemployment may increase inflation, while policies aimed at reducing inflation may increase unemployment.

The Phillips Curve Describes a Negative Relationship Between Unemployment and Inflation