This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: What is the relationship between the short-run Phillips curve and the long-run Phillips curve? ... (Read 134 times)

Kthamas

  • Hero Member
  • *****
  • Posts: 546
on: Jun 29, 2018
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
Reply #1 on: Jun 29, 2018
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
Wow, this really help

upturnedfurball

  • Member
  • Posts: 334
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Women are 50% to 75% more likely than men to experience an adverse drug reaction.

Did you know?

The oldest recorded age was 122. Madame Jeanne Calment was born in France in 1875 and died in 1997. She was a vegetarian and loved olive oil, port wine, and chocolate.

Did you know?

The first oncogene was discovered in 1970 and was termed SRC (pronounced "SARK").

Did you know?

The liver is the only organ that has the ability to regenerate itself after certain types of damage. As much as 25% of the liver can be removed, and it will still regenerate back to its original shape and size. However, the liver cannot regenerate after severe damage caused by alcohol.

Did you know?

Nitroglycerin is used to alleviate various heart-related conditions, and it is also the chief component of dynamite (but mixed in a solid clay base to stabilize it).

Long-term studies of the Glanville fritillary butterfly, Melitaea cinxia, have provided exceptional Long-term studies of the Glanville fritillary butterfly, Melitaea cinxia, have provided exceptional
Components of a long bone. The entire long bone is on the left side accompanied by a blowup of the p Components of a long bone. The entire long bone is on the left side accompanied by a blowup of the p
Relationship between a diagnostic label and related factor Relationship between a diagnostic label and related factor
An Inverted U Curve An Inverted U Curve
The Power and Control Wheels of Abusive Relationships When one person in a relationship repeatedly ... The Power and Control Wheels of Abusive Relationships When one person in a relationship repeatedly ...
Short form of amino acids Short form of amino acids
Video: Regulation of GFR: autoregulation via tubuloglomerular feedback, neural & hormonal regulation

For a complete list of videos, visit our video library