The Original (1958)Phillips Curve Differed from the Samuelson-Solow Phillips Curve

question 108

Multiple Choice

The original (1958) Phillips curve differed from the Samuelson-Solow Phillips curve in that

• A) the former was based on American data,while the latter was based on British data.
• B) the former measured price inflation rates,while the latter used wage inflation rates.
• C) the former was based on British data,while the latter was based on American data.
• D) the former measured nominal GDP,while the latter used Real GDP.
• E) a and b

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Definitions:

Atherosclerosis

A progressive disease in which lipid deposits accumulate in the inner lining of arteries, leading eventually to impaired circulation and heart disease.

Complications

Unexpected problems or conditions that arise during or after a medical procedure, treatment, or illness, making the situation more difficult to manage.

Pulmonary Vein

A blood vessel that carries oxygenated blood from the lungs back to the left atrium of the heart.

Superior Vena Cava

A large vein that carries deoxygenated blood from the upper half of the body to the heart.