وهذي حق فيلبس كيرف
-An economic concept, developed by A. W. Phillips, suggesting that inflation
and unemployment have a stable and inverse relationship.
-The theory states that with economic growth comes inflation, which in turn
should lead to more jobs and less unemployment. The concept has been proven
empirically and some government policies are directly influenced by it.
- Higher the prices, the lower is unemployment
- Lower the prices, higher is the unemployment
Philip’s curve should shift to the left because it is better, unemployment
decreases.