Macro and Micro economics

The Short-Run and Long-Run Relationship Between Unemployment and Inflation

The Short-Run and Long-Run Relationship Between Unemployment and Inflation Evaluate the historical relationship between unemployment and inflation. (hint: You may start from A.W. Phillips’s finding of the relationship between unemployment and inflation.) Distinguish between the short-run and the long-run in a macroeconomic analysis. Why is the relationship between unemployment and inflation different in the short-run […]

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Date: July 11th, 2022