US Macroeconomic Data Show That a Stable Phillips Curve Existed

question 27

True/False

U.S. macroeconomic data show that a stable Phillips curve existed during the 1960s.

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Definitions:

Discount Stores

Retail outlets that sell products at lower prices than traditional department stores or retailers, typically by offering goods that are off-brand or in some way discounted.

Frictionally Unemployed

Individuals temporarily out of work while moving between jobs or looking for their first jobs.

Unemployment Rate

An indicator of the proportion of people in the workforce who are unemployed and searching for work.

Disinflation

A slowdown in the rate of inflation; the process whereby price increases slow down, but the general price level does not decrease.