Welcome to Westonci.ca, your one-stop destination for finding answers to all your questions. Join our expert community now! Discover comprehensive answers to your questions from knowledgeable professionals on our user-friendly platform. Experience the convenience of finding accurate answers to your questions from knowledgeable experts on our platform.
Sagot :
A movement along the Phillips curve demonstrates that the unemployment rate and inflation rate exist inversely related.
What is Phillips curve?
Phillips curve, graphic illustration of the economic connection between the rate of unemployment (or the rate of evolution of unemployment) and the rate of change of money wages. Named for economist A. William Phillips signifies that wages tend to increase faster when unemployment is low. The Phillips curve is an economic model, called after William Phillips hypothesizing a correlation between a reduction in unemployment and increased rates of wage grades within an economy.
The Phillips curve describes the rate of inflation with the rate of unemployment. The Phillips curve reasons that unemployment and inflation exist inversely related: as levels of unemployment decrease, inflation increases. The connection, however, is not linear.
To learn more about Phillips curve refer to:
https://brainly.com/question/28005556
#SPJ4
Thank you for visiting. Our goal is to provide the most accurate answers for all your informational needs. Come back soon. Thanks for stopping by. We strive to provide the best answers for all your questions. See you again soon. Find reliable answers at Westonci.ca. Visit us again for the latest updates and expert advice.
