Economics (M.Phil./Ph.D.) 2015 Panjab University Entrance Exam With Answers

Practice Mode:
27.

The Phillips curve shows :

A: An inverse relationship between the rate of inflation and the rate of unemployment
B: A direct relationship between the rate of inflation and the rate of unemployment
C: An inverse relationship between the rate of inflation and the level of employment
D: An inverse relationship between the price level and the level of employment

The answer is: A