What Does the Phillips Curve Show

question 52

Multiple Choice

What does the Phillips curve show?

• A) The output gap for an economy over a number of years.
• B) The relationship between output and interest rates.
• C) The relationship between unemployment and in?ation.
• D) The growth rate of potential GDP over a period of time.

---

Definitions:

Attitude Formation

The process by which individuals develop their perspectives and feelings towards objects, people, or events.

Direct Experience

The process of gaining knowledge or skills from being personally involved in events or activities, without intermediaries.

ABC Model

A cognitive-behavioral model that outlines the relationship between antecedents, behaviors, and consequences, emphasizing how belief systems influence responses and behaviors.

Elaboration Likelihood Model

A theory in social psychology that explains two routes of persuasion: the central route for people highly involved in the content, and the peripheral route for less engaged audiences.