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The Phillips Curve Model: Inflation and Unemployment

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

What does the Phillips Curve describe?

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1. What relationship does the Phillips Curve illustrate?

2. In the short run, there tends to be a tradeoff between _____ and _____.

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About This Quiz & Worksheet

Use this quiz and worksheet to find out what you know about how the Phillips curve model was used over the years. Some topics addressed in the quiz include demand and unemployment in the marketplace.

Quiz & Worksheet Goals

See how much you've learned about:

  • What the Phillips curve model describes
  • What the Phillips curve model illustrates
  • The application of the model during the 1960's

Skills Practiced

This worksheet and quiz let you practice the following skills:

  • Reading comprehension - ensure that you draw the most important information from the related Phillips curve model lesson
  • Critical thinking - apply relevant concepts to examine information about the movement along the Phillips curve in a different light
  • Information recall - access the knowledge you've gained regarding unemployment
  • Knowledge application - use your knowledge to answer questions about the tradeoffs of demand and inflation

Additional Learning

Increase your understanding of this topic by studying the lesson The Phillips Curve Model: Inflation and Unemployment. The following objectives are the focus of this lesson:

  • Identify associations of inflation and unemployment
  • Define the Phillips curve
  • Plot points on a graph to determine slope of quantifiable data
  • Understand purpose of the Phillips curve in economics
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