Which of the Following Economists Came Up with a Theory

question 23

Multiple Choice

Which of the following economists came up with a theory regarding the tradeoff between
Unemployment and inflation?

• A) Almarin Phillips
• B) John Maynard Keynes
• C) Joseph Schumpeter
• D) Milton Friedman

---

Definitions:

Office of Management and Budget

A federal office within the Executive Office of the President of the United States responsible for devising and submitting the president's budget proposal to Congress.

Cost-Benefit Analyses

The process of comparing the costs and benefits associated with a decision, project, or policy to determine its feasibility or desirability.

Independent Agencies

Bodies established by the government that operate independently from the executive branch to regulate or oversee specific activities.

Administrative Law Judge

An official who presides over federal administrative hearings, making decisions on disputes between government agencies and those affected by agency actions.