Economy, asked by daisy182003, 8 months ago

Who are the losers in times of high inflation? In times of recession? In times of depression?

Answers

Answered by balu58

1

Answer:

The inverse relationship between unemployment rate and inflation when graphically charted is called the Phillips curve. William Phillips pioneered the concept first in his paper "The Relation between Unemployment and the Rate of Change of Money Wage Rates in the United Kingdom, 1861-1957,' in 1958. This theory is now proven for all major economies of the world.

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