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Which of the following statements is true of the U.S. experience with regards to the Phillips curve hypothesis?
I. Annual observations of inflation and unemployment from 1961 to 2008 seem consistent with a Phillips curve.
II. A Phillips curve relationship best fits observations of inflation and unemployment in the 1960s.
III. The Phillips curve relationship in the inflation and unemployment data began to disintegrate in the 1970s.
Positively Correlated
A relationship between two variables where both variables move in the same direction, meaning that as one variable increases, the other also increases, or as one decreases, the other also decreases.
Diet Drugs
Medications prescribed to aid in weight loss by suppressing appetite, increasing metabolism, or inhibiting fat absorption.
Heart Valve Defects
Abnormalities or malfunctions of one or more of the heart's valves that can disrupt blood flow through the heart, potentially leading to various health issues.
Correlation Coefficient
A statistical measure that calculates the extent to which two variables fluctuate together, indicating the strength and direction of their relationship.
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