In the early 1960s, the discovery of the Phillips curve ...

[vicotolentino]

In the early 1960s, the discovery of the Phillips curve relationship caused economists and policy makers to think that they understood the trade-offs between:
 a. aggregate supply and aggregate demand.
  b. interest rate and investment.
 c. inflation and unemployment.
 d. monetary and fiscal policy.
 e. rule-making and discretionary policy.

Question 2

The initial Phillips curve relationship implied that the opportunity cost of _____ was higher _____.
 a. reducing unemployment; inflation
 b. increasing unemployment; inflation
  c. decreasing employment; interest rate
  d. increasing employment; deflation
 e. increasing employment; interest rate

[wfdfwc23]

Answer to Question 1

c

Answer to Question 2

a

[vicotolentino]

Thanks for the timely response, appreciate it

[jamesnevil303]

Excellent