Assignment Help- Explain the difference between the short run and the long run Phillips curve.What does short run mean here? What does long run mean here?
Using pictures, explain the difference between demand pull and cost push inflation.
Draw a traditional Phillips curve. What does it imply is the usual relationship between inflation and unemployment? What monetary and fiscal policies would lower unemployment while increasing inflation?
What is meant by stagflation? Show stagflation in a Phillips curve diagram. What US decade showed stagflation?
Define each of the following types of unemployment: frictional, structural, natural, cyclical.
