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The Phillips curve was first suggested as a description of the relationship between inflation and unemployment in the late 1950s, and data through the 1960s were consistent with its predictions. What happened in the 1970s?

Answer :

Answer: High inflation and high unemployment in the United States undermined the Phillips hypothesis.

Explanation:

In the year the 1970s, there is high inflation and high unemployment in the United States that undermined the Phillips hypothesis.

What happened in the 1970s?

Since the Phillips curve was first recommended by the description of the relationship that lies between inflation and unemployment.

So based on this, we can say that In the year the 1970s, there is high inflation and high unemployment in the United States that undermined the Phillips hypothesis.

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