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.
Answer:A
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.