The Phillips curve is named after the economist A. W. Phillips, who found that there is:
a. an inverse relationship between the PPI and the budget deficit in the United States.
b. an inverse relationship between wage rates in Great Britain and the unemployment rate.
c. an inverse relationship between economic growth and the unemployment rate in Great Britain.
d. a positive relationship between inflation and the unemployment rate in the United States.
e. a positive relationship between British national debt and economic downturns.
b
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Keeping an extra $200 in your checking account to pay for possible car repairs illustrates the
A) speculative demand for money. B) transfer demand for money. C) precautionary demand for money. D) transactions demand for money.
Which of the following is NOT an example of a monopolistically competitive market?
A) high fashion clothing B) medical care C) wheat D) automobiles