Economics · Macroeconomics
Choose the correct statement regarding the Phillips Curve.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The original Phillips Curve refutes the occurrence of circumstances such as stagflation.
- 2The augmented Phillips Curve was a direct consequence of the 1970s U.S. stagflation.✓
- 3A.W. Phillips, a New Zealand-born economist, proposed the Phillips Curve.
- 4The Phillips Curve assumes that inflation and unemployment have a stable and constant link.
Correct answer
The augmented Phillips Curve was a direct consequence of the 1970s U.S. stagflation.
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