How to graph aggregate supply with short-run Phillips curves

AP Macroeconomics · Learn by Concept

Help Questions

AP Macroeconomics › How to graph aggregate supply with short-run Phillips curves

1 - 1

Which of the following is the best definition of the concept behind the Phillips Curve?

The relationship between unemployment and inflation

CORRECT

The relationship between government spending and the multiplier effect

The relationship between net exports and GDP

The relationship between worker pay and productivity.

The Phillips Curve is meant to express the short-run tradeoff between inflation and unemployment.