Phillips curve

Definition

A curve that relates the tradeoff between unemployment and inflation, stating that lower unemployment rates result in higher rates of wage adjustments, and thus a higher inflation rate for the economy.

Use Phillips curve in a sentence

You should try and use a phillips curve to figure out how your business will be doing a few years down the road.

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Because of the Phillips Curve, as the economy recovered and the unemployment rates lowered, my grocery bill was more expensive.

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Even though unemployment rates were trending downwards, it didn't mean the economy was all set. Based on the Phillips Curve, there was some concern for an increase in inflation.

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