The Phillips Curve Tradeoff Worsened in the 1970s Because of

question 65

Multiple Choice

The Phillips curve tradeoff worsened in the 1970s because of

• A) oil shocks.
• B) aggressive unions.
• C) environmental concerns.
• D) the Watergate scandal.

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Definitions:

Coefficient of Determination

A measure, often represented as R^2, that quantifies the proportion of the variance in the dependent variable that is predictable from the independent variable(s).

Variance

A measure of how far individual numbers in a dataset are from the mean, squared.

Correlation Coefficient

A statistical measure that calculates the strength and direction of a linear relationship between two variables, ranging from -1 to +1.