According to A.W. Phillips, an inverse relationship has existed between
A) the inflation rate and unemployment rate.
B) the inflation rate and the money supply.
C) unemployment and interest rates.
D) the rate of growth of the money supply and the unemployment rate.
A
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Often bar owners will require that patrons stand in a line to get a wristband entitling them to pay a preferred price for drinks if they arrive early to the bar
The wristbands are typically tamper- resistant and can be easily identified if patrons have been switching wristbands with other customers. What is the bar owner concerned about and why does he make his patrons wear these bands?
The Okun's law shows the relationship between
A) inflation and unemployment rate. B) output growth and unemployment. C) inflation and output growth. D) output growth and money supply.