The Phillips Curve Based on the Unemployment and Inflation Rates

question 38

Multiple Choice

The Phillips curve based on the unemployment and inflation rates in the U.S.between 1961 and 1969 was:

• A)upward sloping.
• B)downward sloping.
• C)horizontal.
• D)vertical.
• E)upward sloping but kinked.

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Definitions:

Grenville

Was a British Whig statesman who served as Prime Minister of Great Britain in the mid-18th century, known for his policy of taxing the American colonies, leading to unrest.

British Troops

Military forces from the United Kingdom, involved in various historical and contemporary conflicts and peacekeeping missions around the world.

Lord North

A British statesman who served as Prime Minister from 1770 to 1782, notably during a significant portion of the American Revolutionary War.

Liberty

The condition of enjoying freedom in society from authoritarian-imposed constraints on one's lifestyle, actions, or political beliefs.