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 66 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
Gracias!

ricroger

  • Member
  • Posts: 352
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Amoebae are the simplest type of protozoans, and are characterized by a feeding and dividing trophozoite stage that moves by temporary extensions called pseudopodia or false feet.

Did you know?

People with alcoholism are at a much greater risk of malnutrition than are other people and usually exhibit low levels of most vitamins (especially folic acid). This is because alcohol often takes the place of 50% of their daily intake of calories, with little nutritional value contained in it.

Did you know?

Acute bronchitis is an inflammation of the breathing tubes (bronchi), which causes increased mucus production and other changes. It is usually caused by bacteria or viruses, can be serious in people who have pulmonary or cardiac diseases, and can lead to pneumonia.

Did you know?

About 3.2 billion people, nearly half the world population, are at risk for malaria. In 2015, there are about 214 million malaria cases and an estimated 438,000 malaria deaths.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates’s recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Testing the effects of long-term fertilizing on inter-actions between mycorrhizal fungi and plants o Testing the effects of long-term fertilizing on inter-actions between mycorrhizal fungi and plants o
On November 11, 1887, four anarchists were hanged in Chicago on charges that they had thrown a bomb On November 11, 1887, four anarchists were hanged in Chicago on charges that they had thrown a bomb
The Circle of Relationship Issues and Sexual Problems The Circle of Relationship Issues and Sexual Problems
Relationship of the lymphatic system to the cardiovascular system. Relationship of the lymphatic system to the cardiovascular system.
Long-term Potentiation in the granule cell layer of the rat hippocampal dentate gyrus. (Traces ... Long-term Potentiation in the granule cell layer of the rat hippocampal dentate gyrus. (Traces ...
Three Pieces of the Long-Term Weight-Loss Puzzle Diet Three Pieces of the Long-Term Weight-Loss Puzzle Diet
Video: What are Taste Receptors? How Does it Work? Animation

For a complete list of videos, visit our video library