The Early Phillips Curve Showed a Trade-Off Between Unemployment and Inflation

question 52

True/False

The early Phillips curve showed a trade-off between unemployment and inflation because it was drawn for a period in which the main source of instability was aggregate demand.

---

Definitions:

Conditioned Fear

A learned response to a previously neutral stimulus that has been repeatedly paired with an aversive stimulus, leading to fear responses when the neutral stimulus is presented alone.

Furry

A subculture interested in anthropomorphic animal characters with human personalities and characteristics.

Puzzle Boxes

A method used in animal learning experiments where an animal must solve a problem or manipulate mechanisms to escape or obtain a reward.

Thorndike

Edward Thorndike, an American psychologist, who is famous for his work in the early 20th century on learning theory and the law of effect.