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Case Interview Prep

Category - Economics

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Which economist expressed a statistical relationship between the rate of growth of money wages and unemployment?

J.M. Keynes
A. W. Phillips
M. Friedman
J. A. Hobson

Explanation

Answer: B - A.W. Phillips is the economist who expressed a statistical relationship between the rate of growth of money wages and unemployment.

Key Takeaway: Professor A. W. Phillips plotted a statistical relationship between the rate of growth of money wages (inflation) and unemployment in 1958. His theory lead to a discussion of inflationary pressure on unemployment and development of the Phillips Curve.

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