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Response to Phillips curve
from Christina Tan (chrisbaby_@hotmail.com)
Phillips curve is a curve showing the relationship between (price)
inflation and unemployment. It was developed by the Briish economist
A. W. Phillips in 1958 to describe the relationship between wage
increases and the unemployement rate in the United Kingdom, and it
has since been adapted to relate inflation and the unemployment. The
original Phillips curve plotted wage inflation against unemployment
for the years 1861 - 1957
(posted 8167 days ago)
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