Doubts about the natural and the existences of the Phillips curve arose in the 1970s when the economy experienced ?

A. a high rate of inflation: along with a low rate of unemployment
B. simultaneously low rates of inflation and unemployment
C. simultaneously high rates of inflation and unemployment
D. a high rate of unemployment along with a low rate of inflation

Correct Answer: simultaneously high rates of inflation and unemployment ✔

Last Updated: June 11, 2019