Question
Which of the following is NOT correct in respect of Philips curve ?
This question was previously asked in
CUET PG 2026 Agri-Business Management Question Paper (25-Mar-2026) (Shift 2)
Phillips Curve Basics
The Phillips curve illustrates a potential inverse relationship between the rate of inflation and the rate of unemployment within an economy. Generally, it suggests that lower unemployment correlates with higher inflation, and vice versa.
Analyzing Incorrect Statements
Statement B: Publication Year Error
The statement "A.W. Phillips first put this theory in 1985" is incorrect. A.W. Phillips actually presented his findings on the relationship between unemployment and wage inflation in a paper published in 1958, not 1985. This date is a key fact about the theory's origin.
Statement D: Relationship Misrepresentation
The statement "If unemployment decreases, inflation will also decrease and vice versa" contradicts the standard Phillips curve relationship. The curve typically suggests that a decrease in unemployment (moving left on the curve) leads to an increase in inflation, while an increase in unemployment leads to a decrease in inflation. This statement incorrectly describes the trade-off.
Conclusion on Incorrect Statements
Based on the analysis, the incorrect statements regarding the Phillips curve are:
- A.W. Phillips first put this theory in 1985 (Incorrect date).
- If unemployment decreases, inflation will also decrease and vice versa (Incorrect relationship).
Therefore, statements B and D are not correct.
Was this answer helpful?
Similar Questions
- Match List - I with List - II.
List - I List - II A. Ambiguous instrument I. An incomplete or blank negotiable instrument properly stamped and signed. B. Inchoate instrument II. A bill of exchange drawn on a specified banker, payable on demand C. Cheque III. An instrument, which is in such form that it may either be treated as bill of exchange or promissory note. D. Bank draft IV. It is an order issued by one bank to another or on its own branch instructing to pay a sum of money to a specified person or his order.
Choose the correct answer from the options given below : - Given below are two statements : one is labelled as Assertion (A) and the other is labelled as Reason (R).
Assertion (A) : Process costing method is useful in the manufacturing of products like steel, paper, medicines, soaps, chemical etc.
Reason (R) : Process costing is a method of costing used in industries where the material has to pass through two or more processes for being converted into a final product.
In the light of the above statements, choose the most appropriate answer from the options given below : - Arrange the following items in correct sequence in which they are shown in Marginal cost statement :
A. Variable cost
B. Profit
C. Contribution
D. Sales
E. Fixed cost
Choose the correct answer from the options given below : - While reconciliation of cost and financial accounts for calculating profits as per Financial Accounts from Profits as per Cost Accounts, which of the following purely financial items are deducted ?
A. Interest on loans or bank mortgages
B. Interest received on bank deposits, loans and investments
C. Expenses and discounts on issue of shares, debentures etc.
D. Loss by fire not covered by insurance
E. Rent Receivables
Choose the correct answer from the options given below : - Match List - I with List - II.
List - I List - II A. Direct Material I. Stores used for maintaining machines B. Indirect Material II. Cloth in dress making C. Indirect Labour III. Factory rent D. Indirect Expense IV. Salary paid to foreman and Supervisors
Choose the correct answer from the options given below : - Arrange the following steps of incorporation of a company in chronological order :
A. Obtain certificate of incorporation
B. Drafting and signing of MoA and AoA
C. Consent of person nominated as directors
D. Reservation of name by filling an application
E. Pay fees and amount of stamp duty
Choose the correct answer from the options given below : - As per Section 52 of Companies Act 2013, the securities premium account can be utlized for which of the following purpose ?
A. Issue of partly paid bonus share
B. Writting off preliminary expenses
C. Writing off the issue expenses
D. Premium payable on the redemption of preference share/debenture
E. Buy-back of its own share or other securities under Section 68.
Choose the correct answer from the options given below : - Which of the following are correct in respect of Quorum required to hold a valid General Meeting of a company ?
A. For a Public company, minimum 5 members personally present in case of number of members is not more than, 1000.
B. For a Public Company, minimum 20 members personally present, when number is more than 1,000 but up to 5,000.
C. For a Public Company, minimum 30 members personally present, when number of members is more than 5,000.
D. In case of Private Company, minimum 3 members personally present.
E. One member may constitute a valid Quorum in case Tribunal calls or directs the calling of a general meeting.
Choose the correct answer from the options given below : - Match List - I with List - II.
List - I List - II A. Article of Association (AoA) of a company limited by guarantee and not having share capital I. Table I B. AoA of an unlimited company and having share capital II. Table F C. AoA of company limited by share III. Table G D. AoA of company limited by Guarantee and having share capital IV. Table H
Choose the correct answer from the options given below : - Given below are two statements : one is labelled as Assertion (A) and the other is labelled as Reason (R).
Assertion (A) : Considering the harmful effects of liquor and tabacco products, the government of India banned the advertising of these products. As a reaction to this, the manufacturer of these products started seeking other way to promote these products.
Reason (R) : Manufacturer introduced various other products (surrogates) in the market with the same brand name (like sodas) to remind the target market of their original products.
In the light of the above statements, choose the most appropriate answer from the options given below :
Important Questions from Miscellaneous
- Which of the following scheduler/schedulers is/are also called CPU scheduler ?
(A). Short Term Scheduler
(B). Long Term Scheduler
(C). Medium Term Scheduler
(D). Asymmetric Scheduler
Choose the correct answer from the options given below: - A situation where two or more processes are blocked, waiting for resources held by each other is called:
- External fragmentation occurs ________.
- Which disk scheduling algorithm looks for the track closest to the current head position?
- Which CPU scheduling algorithm prefers the process with the shortest burst time?
Need Expert Advice?
Upcoming Exams
GATE
February 06, 2027
Test Series
CUET
CUET PG Psychology (HUQP20) 2026 Mock Test Series
10 Tests
760 Attempts
3.7(14)
English
More Questions from CUET PG
