This topic contains a solution. Click here to go to the answer

Author Question: What is the relationship between the short-run Phillips curve and the long-run Phillips curve? ... (Read 133 times)

Kthamas

  • Hero Member
  • *****
  • Posts: 546
What is the relationship between the short-run Phillips curve and the long-run Phillips curve?
 
  What will be an ideal response?

Question 2

Is the marginal benefit from the concert zero? Explain your answer.
 
  What will be an ideal response?



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Mochi

  • Sr. Member
  • ****
  • Posts: 300
Answer to Question 1

Along the short-run Phillips curve, the expected inflation rate is constant. When the expected inflation rate changes, the short-run Phillips curve shifts. The long-run Phillips curve is a vertical line at the natural rate of unemployment. The short-run Phillips curve intersects the long-run Phillips curve at the expected inflation rate.

Answer to Question 2

The marginal benefit from the concert was not zero. Regardless of the price paid for the concert, Eminem's fans enjoyed the concert and there-fore enjoyed a marginal benefit from it.




Kthamas

  • Member
  • Posts: 546
Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)


Mochi

  • Member
  • Posts: 300
Reply 3 on: Yesterday
Wow, this really help

 

Did you know?

Tobacco depletes the body of vitamins A, C, and E, which can result in any of the following: dry hair, dry skin, dry eyes, poor growth, night blindness, abscesses, insomnia, fatigue, reproductive system problems, sinusitis, pneumonia, frequent respiratory problems, skin disorders, weight loss, rickets, osteomalacia, nervousness, muscle spasms, leg cramps, extremity numbness, bone malformations, decayed teeth, difficulty in walking, irritability, restlessness, profuse sweating, increased uric acid (gout), joint damage, damaged red blood cells, destruction of nerves, infertility, miscarriage, and many types of cancer.

Did you know?

The eye muscles are the most active muscles in the whole body. The external muscles that move the eyes are the strongest muscles in the human body for the job they have to do. They are 100 times more powerful than they need to be.

Did you know?

All patients with hyperparathyroidism will develop osteoporosis. The parathyroid glands maintain blood calcium within the normal range. All patients with this disease will continue to lose calcium from their bones every day, and there is no way to prevent the development of osteoporosis as a result.

Did you know?

By definition, when a medication is administered intravenously, its bioavailability is 100%.

Did you know?

There are immediate benefits of chiropractic adjustments that are visible via magnetic resonance imaging (MRI). It shows that spinal manipulation therapy is effective in decreasing pain and increasing the gaps between the vertebrae, reducing pressure that leads to pain.

For a complete list of videos, visit our video library