Phil|lips curve

Phil|lips curve
Phil|lips curve «FIHL uhps»,
a curve showing a correlation between rates of unemployment and rates of inflation: »

The Phillips curve…lays it down that the rate at which wages rise is inversely proportional to the level of unemployment—that is, that the greater the pressure on the labour market (and hence the lor the level of unemployment), the faster the price of labour will rise (Manchester Guardian Weekly).

[< A.W.H. Phillips, born 1914, a British economist]

Useful english dictionary. 2012.

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