Macroeconomics Study Set 18
Quiz 12: Unemployment and Inflation
The origin of the idea of a trade-off between inflation and unemployment was a 1958 article by A)A.W.Phillips. B)Edmund Phelps. C)Milton Friedman. D)Robert Gordon.
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Phillips's research looked at British data on A)unemployment and inflation. B)unemployment and nominal wage growth. C)inflation and nominal wage growth. D)unemployment and output.
The negative relationship between unemployment and inflation is known as the A)aggregate supply curve. B)aggregate demand curve. C)Phillips curve. D)efficiency wage line.
The Phillips curve appeared to fit the data well for the United States in the A)1960s. B)1970s. C)1980s. D)1990s.
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