Economy, asked by rkohli8255, 1 year ago

Explain Tobin’s modified Phillips curve.

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Answered by taibak32

3

HeY mate here is your answer ❤️❤️❤️❤️❤️❤️❤️❤️

Such a curve is called the Phillips curve. The PC curve in Figure 9 is the Phillips curve which relates percentage change in money wage rate (W) on the vertical axis with the rate of unemployment (U) on the horizontal axis. ... This means that when the wage rate is high the unemployment rate is low and vice versa.

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