Philips curve

In economics, the Phillips curve is a historical inverse relationship between the rate of unemployment and
the rate of inflation in an economy. Stated simply, the lower the unemployment in an economy, the higher
the rate of inflation. While it has been observed that there is a stable short run tradeoff between
unemployment and inflation, this has not been observed in the long run.

http://en.wikipedia.org/wiki/NAIRU

http://en.wikipedia.org/wiki/Keynesian_economics

http://tutor2u.net/economics/revision-notes/a2-macro-phillips-curve.html

http://en.wikipedia.org/wiki/Phillips_curve