Unemployment v inflation trade off (HL only)

IB Economics: Unemployment v inflation trade off (HL only)

This lesson looks at the Phillips curve, a diagram which illustrates the relationship between inflation and unemployment. An important note for your classes to understand is that in reality any relationship between the two variables is likely to be between the rate of inflation and cyclical unemployment. Again there is disagreement between the different schools of thought on the relationship between the two variables...

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