AWPhillips Collected Data on the Rate of Change in Money

question 75

Multiple Choice

A.W.Phillips collected data on the rate of change in money wages and plotted it against unemployment rates in the United Kingdom.The curve he fit to the data showed that

• A) the rate of change of money wage rates and unemployment rates were inversely related.
• B) the rate of change of money wage rates and unemployment rates were directly related.
• C) the rate of change of money wage rates and unemployment rates were independent.
• D) as money wage rates increased,the unemployment rate was cut in more than half.

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