Unemployment and inflation are called the twin evils of, Ask an Expert

Economics

Unemployment and inflation are called the "twin evils" of macroeconomics. The two measures are closely related - when unemployment rises, inflation tends to fall, and vice versa.

One major theory about the relationship of unemployment and inflation is called the Phillips Curve; it is the formalization of the relationship between unemployment and inflation described above.

Research the idea of the Phillips Curve - what, precisely, does the Phillips Curve state/represent? Do economists still believe this theory? Why or why not?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91843890

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