Because employment increases in economic expansions, which inflation typically accompanies, unemployment level and price level inversely relate {Phillips curve}. Money and wage inflation relates to unemployment: (dw / dt) / w = h(U), where dw is wage change, dt is time change, w is wage, U is unemployment, and h(U) < 0. As unemployment increases, wages and prices decline.
Social Sciences>Economics>Macroeconomics>Measurement
6-Economics-Macroeconomics-Measurement
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Date Modified: 2022.0224