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Kitty [74]
2 years ago
6

The Phillips curve was first suggested as a description of the relationship between inflation and unemployment in the late 1950s

, and data through the 1960s were consistent with its predictions. What happened in the 1970s?
Business
2 answers:
Sholpan [36]2 years ago
7 0

Answer:

HIGH INFLATION and high unemployment in the United States undermined the Phillips hypothesis.

Explanation:

Mkey [24]2 years ago
5 0

Answer: High inflation and high unemployment in the United States undermined the Phillips hypothesis.

Explanation:

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If interest rates increase from 8% to 9½%, we would expect to see an
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