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

---

Definitions:

Acid-Test Ratio

The acid-test ratio is a liquidity metric that measures a company's ability to cover its short-term liabilities with its quick assets (excluding inventory).

Balance Sheet

A financial statement that summarizes a company's assets, liabilities, and shareholders' equity at a specific point in time.

Bonds Payable

Long-term liabilities represented by written promises to pay a specific sum of money, plus interest, at a future date.

Accounts Payable

An accounting entry that represents an entity's obligation to pay off a short-term debt to its creditors or suppliers.