Sunday, January 18, 2015
Phillips curve Cheat Sheet
Tentative cheat sheet,,, I will be changing/adding some clarification in the next week. But here is the older cheat sheet. Helpful, I think, for matching the FRQ's with the Curve.
a change in AD is a movement up/down the SRPC
a change in SRAS is a shift of the SRPC
There is no trade-off between inflation and employment in the Long-run.
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