CameraIcon
CameraIcon
SearchIcon
MyQuestionIcon
MyQuestionIcon
1
You visited us 1 times! Enjoying our articles? Unlock Full Access!
Question

Which one of the following laws/curves stated that the lower the unemployment in an economy, the higher the rate of inflation?

A
Gini's Curve
No worries! We‘ve got your back. Try BYJU‘S free classes today!
B
Verdoorn's law
No worries! We‘ve got your back. Try BYJU‘S free classes today!
C
Gibrats law
No worries! We‘ve got your back. Try BYJU‘S free classes today!
D
Phillips curve
Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses
Open in App
Solution

The correct option is D Phillips curve
Philips curve is a historical inverse relationship between the rate of unemployment and the rate of inflation in an economy. Philip's curve stated that the lower the unemployment in an economy, the higher the rate of inflation.

flag
Suggest Corrections
thumbs-up
0
Join BYJU'S Learning Program
similar_icon
Related Videos
thumbnail
lock
Money supply and inflation
ECONOMICS
Watch in App
Join BYJU'S Learning Program
CrossIcon