The Original Phillips Curve Showed a _____ Relationship Between _____

question 251

Multiple Choice

The original Phillips curve showed a _____ relationship between _____ and unemployment rates.

• A) negative; price inflation
• B) negative; money wage rates
• C) positive; price inflation
• D) positive; money wage rates

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Definitions:

Exponential Smoothing

A time series forecasting method for univariate data that averages the data in a way that gives less weight to older observations.

Seasonal Factor

A quantitative adjustment factor applied to economic or statistical data to account for seasonal variations of the data point.

Exponential Smoothing

A forecasting technique that applies decreasing weights to past observations as they recede in time.

Exponential Smoothing Model

A time series forecasting technique that applies weighting factors which decrease exponentially to past observations.