Some countries have had high inflation rates for a long time and other countries have had low inflation rates for a long time.Yet in some of the high inflation countries the average unemployment rate has been about the same or sometimes higher than in the low inflation countries.Explain how these observations can be consistent with the Phillips curve.

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The Answer of Some countries have had high inflation rates for a long time and other countries have had low inflation rates for a long time.Yet in some of the high inflation countries the average unemployment rate has been about the same or sometimes higher than in the low inflation countries.Explain how these observations can be consistent with the Phillips curve.

Some Countries Have Had High Inflation Rates for a Long