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Phillips curve

noun
  1. 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
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Word Origin for Phillips curve

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 Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012