Phillips Curve
An economic concept developed by A. W. Phillips stating that inflation and unemployment have a stable and inverse relationship. Investopedia Says:
The theory states that with economic growth comes inflation, which in turn should lead to more jobs and less unemployment. The concept has been proven empirically and some government policies are directly influenced by it. Related Terms:
Economics
Frictional Unemployment
Inflation
Natural Unemployment
Okun's Law
Structural Unemployment |