Define the Phillips Curve. Graphically illustrate the relationship between the inflation rate and the unemployment rate.
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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
Q82: 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 Q88:
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