Answer to Question 1
In the Phillips curve, inflation is determined by expected inflation and the unemployment gap. A price shock is anything other than those two factors that has an impact on inflation, such as a change in import prices. At first, Phillips and other economists were interested in the relationship between unemployment and inflation, rather than in devising a comprehensive explanation addressing all causes of inflation. Once it became clear that a persistent unemployment gap will cause inflation to change repeatedly (shifts of the short-run Phillips curve), it was possible to ask how much of inflation is attributable to labor market conditions, which requires recognition of all other factors that influence inflation.
Answer to Question 2
B
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An impact screwdriver used to remove slotted or Phillips head fasteners that cannot be broken loose ...
The original Supply and Demand graph
After 159 days,she paid a maturity value of $11,626, which included interest of $814.
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The Oxyhemoglobin Dissociation Curve