Columbia Inflation and Unemployment Reflected by the Phillips curve

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Economics

Columbia College

Description

Present a thorough analysis of the inverse relationship between inflation and unemployment reflected by the Phillips curve. Describe the importance of expectations and how they affect the actual relationship between the inflation rate and the unemployment rate. Roughly 1 1/2 page long

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Running head: ECONOMICS

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Economics
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ECONOMICS

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Inflation and Unemployment Reflected by the Phillips curve

Through the Phillips Curve, the short run trade-off that exists between inflation and
unemployment is expounded. The curve notes that there is an inverse relationship which exists
between unemployment and inflation. Therefore, when unemployment rises in an economy the
rate of inflation declines (Miller, 2014). Increase in the aggregate demand for goods leads to
increment in p...


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