The Phillips Curve

question 23

Multiple Choice

The Phillips curve

• A) was developed by economists at Phillips 66.
• B) shows the effectiveness of government policy.
• C) is used by economists to determine optimal oil prices.
• D) shows the relationship between unemployment and inflation.

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Definitions:

Conservative Laws

Legislation that adheres to traditional values and viewpoints, usually emphasizing restraint in social and political change and preserving existing conditions.

Socially Organized

The arrangement and cooperation of individuals and groups in societies that results in a structured and functioning community.

Interstate Warfare

Conflict or war that takes place between two or more sovereign states.

World Power

A nation or state that has significant influence and authority on a global scale, often through economic, military, or political means.