Which curve is used to depict the short-run trade-off between inflation and unemployment?

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The short-run relationship between inflation and unemployment is captured by the Phillips Curve. It describes an inverse trade-off: when unemployment is low and the labor market tightens, inflation tends to rise due to higher wage demands and stronger demand for goods and services. When unemployment is higher, wage pressures ease and inflation tends to fall. This is the idea policymakers consider in the short run—pursuing lower unemployment can come with higher inflation, while fighting inflation can raise unemployment.

Other curves mentioned don’t depict this specific trade-off. The short-run Aggregate Supply curve shows how the price level relates to output in the short run, not the direct inflation-unemployment relationship. The Laffer Curve relates tax rates to tax revenue, not inflation or unemployment. The Production Possibility Frontier shows the maximum possible production of two goods given resources, not the inflation-unemployment dynamic.