In the Early 1960s, the Discovery of the Phillips Curve

question 115

Multiple Choice

In the early 1960s, the discovery of the Phillips curve relationship caused economists and policymakers to believe they understood the trade-offs between two particular variables.What are the two variables?  

• A) aggregate supply and aggregate demand 
• B) inflation and unemployment 
• C) monetary policy and fiscal policy 
• D) rule-making policy and discretionary policy

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