-
Which one of the following curves is a graphical representation of the relationship between unemployment and the job vacancy rate ?
-
- Philips curve
- Laffer,s curve
- Beveridge curve
- Friedman,s curve
Correct Option: C
A Beveridge curve, or UV-curve, is a graphical representation of the relationship between unemployment and the job vacancy rate (the number of unfilled jobs expressed as a proportion of the labour force). It typically has vacancies on the vertical axis and unemployment on the horizontal. The curve is named after William Beveridge and it is hyperbolic shaped.