The cardinal signs are associated with starting things, initiating things or being enterprising. They are forceful and aggressive and have the will to accomplish something, often something new. They project into the world.
Definition of 'Phillips Curve'. Definition: The inverse relationship between unemployment rate and inflation when graphically charted is called the Phillips curve. William Phillips pioneered the concept first in his paper The Relation between Unemployment and the Rate of Change of Money Wage Rates in the United Kingdom, 1861-1957,' in 1958.
NAIRU, which exists at the Long Run Phillips Curve, is the rate of unemployment at which inflation will stabilise - in other words, at this rate of unemployment, prices will rise at the same rate each year.