Which of the following about the Phillips curve is not correct? A) It shows the relation between GDP growth and unemployment. B) It has been redefined as a relation between the change in the rate of inflation and the unemployment rate. C) It was first explored by A. W. Phillips. D) The curve is downward sloping.
Which of the following about the Phillips curve is not correct? A) It shows the relation between GDP growth and unemployment. B) It has been redefined as a relation between the change in the rate of inflation and the unemployment rate. C) It was first explored by A. W. Phillips. D) The curve is downward sloping.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Which of the following about the
A) It shows the relation between
B) It has been redefined as a relation between the change in the rate of inflation and the unemployment rate.
C) It was first explored by A. W. Phillips.
D) The curve is downward sloping.
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