Difference between revisions of "Phillips curve"
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(It's not about prices but about the rate at which wages increase) |
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In [[economics]], the '''Phillips curve''' is a graphical representation of the idea that "wages tend to rise faster when [[unemployment]] is low." <ref>[http://www.britannica.com/EBchecked/topic/456596/Phillips-curve Encyclopedia Britannica] | In [[economics]], the '''Phillips curve''' is a graphical representation of the idea that "wages tend to rise faster when [[unemployment]] is low." <ref>[http://www.britannica.com/EBchecked/topic/456596/Phillips-curve Encyclopedia Britannica] | ||
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[[Category:Economics]] | [[Category:Economics]] | ||
Revision as of 15:46, June 6, 2009
In economics, the Phillips curve is a graphical representation of the idea that "wages tend to rise faster when unemployment is low." [1]