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Phillips curve

(economics) a curve that purports to plot the relationship between unemployment and inflation on the theory that as inflation falls unemployment rises and vice versa
Word Origin
C20: named after A. W. H. Phillips (1914–75), New Zealand economist who formulated the theory
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition
© William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
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