areejiftikhar601 areejiftikhar601
  • 07-07-2021
  • Business
contestada

relationship between short and long run in Philips curve

Respuesta :

dhath dhath
  • 08-07-2021

Answer:

In the short-run, inflation and unemployment are inversely related; as one quantity increases, the other decreases. In the long-run, there is no trade-off. In the 1960's, economists believed that the short-run Phillips curve was stable.

Explanation:

https://courses.lumenlearning.com/boundless-economics/chapter/the-relationship-between-inflation-and-unemployment/

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