Question
Which of the following statements about the “Phillips
Curve” is correct? I. The Phillips curve is an economic theory that inflation and employment have a stable and inverse relationship. II. it claims that with economic growth comes inflation, which in turn should lead to more jobs and less unemployment.Solution
The Phillips curve is an economic theory that inflation and unemployment have a stable and inverse relationship. Developed by William Phillips, it claims that with economic growth comes inflation, which in turn should lead to more jobs and less unemployment.
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