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When does the Phillips curve look like this? Description of the diagram is below the diagram. The diagram has unemployment on the horizontal axis and
When does the Phillips curve look like this? Description of the diagram is below the diagram. The diagram has unemployment on the horizontal axis and inflation on the vertical axis. There is a place marked on the horizontal axis as UN at 6% unemployment. There is a line which is a curved slanted C-shape showing that as inflation rose in the 1960s, unemployment fell. There is also a vertical line going straight up from the place marked as UN on the horizontal axis. Group of answer choices It never looks like this. When people always expect no inflation. When people have adaptive expectations. When people have rational expectations
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