
-Under what circumstance will the economy experience both inflation and unemployment? Explain in terms of shifts of the aggregate supply and/or aggregate demand curves. Under what circumstances might the impact on inflation be even worse?
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Q77: Q78: Draw a graph of the Phillips Curve. Q79: Explain what role expectations play in determining Q80: If the economy experiences both inflation and Q81: Why was the Phillips Curve relatively stable Q83: Define the Phillips Curve. Graphically illustrate the Q84: Define what economists mean by the term Q85: What is potential GDP? Q86: For each of the following indicate if Q87: If the AD curve shifts from year![]()
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