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Question

18. Phillips curve explains the relationship between

A
Rates of taxation and the resulting levels of Government revenue
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B
Relation between rates of unemployment and corresponding rates of inflation.
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C
Deviation of Distribution of income among individuals or households within an economy
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D
Graph depicting the relationship between the price of a certain commodity and the amount of it that consumers are willing and able to purchase at that given price.
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Solution

The correct option is B Relation between rates of unemployment and corresponding rates of inflation.
The Phillips curve describes a historical inverse relationship between rates of unemployment and corresponding rates of inflation that result within an economy.

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