The Phillips curve is   A. a positive relationship between price stability and​ constant, small-increment changes in the fiscal policy on the part of the Fed.   B. a positive relationship in the long run between the rate of inflation and the rate of unemployment.   C. a negative relationship between the inflation rate and the unemployment​ rate, at least in the short run.   D. a positive relationship between the unemployment rate and the real Gross Domestic Product​ (GDP) level.

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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The Phillips curve is
 
A.
a positive relationship between price stability and​ constant, small-increment changes in the fiscal policy on the part of the Fed.
 
B.
a positive relationship in the long run between the rate of inflation and the rate of unemployment.
 
C.
a negative relationship between the inflation rate and the unemployment​ rate, at least in the short run.
 
D.
a positive relationship between the unemployment rate and the real Gross Domestic Product​ (GDP) level.
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