What is the empirically fitted relationship between the rate of change of money wages and rate of unemployment, known as?
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UoH 2011 Question 69: Inflation, unemployment and the Phillips curve
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Inflation, unemployment and the Phillips curve has come up 106 times in 7 exams since 2006.
What this question tests
This question is on The Phillips curve and the inflation-unemployment trade-off, part of Inflation, unemployment and the Phillips curve in Macroeconomics.
The relation between inflation and unemployment, in the original and short-run form.
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