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Economics

According to A.W.Phillips, in 1958 in New Zealand who is an economist published a study showing the relationship between the unemployment rate and the rate of change in the wages which was in England, he also found out that there have had an inverse relationship between the unemployment rate and the rate of change in wage during the years of 1826 through 1957.

Some economists defined or referred to Phillips curve as a graph that illustrates the relationship between inflation and the unemployment rate and they also suggested that the society could use the curve to select the combination of inflation and unemployment rate.

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Approximate Word count = 451
Approximate Pages = 2 (250 words per page double spaced)


  

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