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 135 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
YES! Correct, THANKS for helping me on my review

meow1234

  • Member
  • Posts: 333
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

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?

There are more nerve cells in one human brain than there are stars in the Milky Way.

Did you know?

The tallest man ever known was Robert Wadlow, an American, who reached the height of 8 feet 11 inches. He died at age 26 years from an infection caused by the immense weight of his body (491 pounds) and the stress on his leg bones and muscles.

Did you know?

One way to reduce acid reflux is to lose two or three pounds. Most people lose weight in the belly area first when they increase exercise, meaning that heartburn can be reduced quickly by this method.

Did you know?

Vaccines cause herd immunity. If the majority of people in a community have been vaccinated against a disease, an unvaccinated person is less likely to get the disease since others are less likely to become sick from it and spread the disease.

Frequency distribution curve: interpatient variability in drug response Frequency distribution curve: interpatient variability in drug response
fMRI Machine It is not until after toddlerhood that most children can lie still long enough to have fMRI Machine It is not until after toddlerhood that most children can lie still long enough to have
Hormones acting through the brain help regulate metabolism and short- and long-term appetite. Hormones acting through the brain help regulate metabolism and short- and long-term appetite.
Effect-log dose curve for the analgesic action of three narcotics and aspirin. Hydromorphone is more ... Effect-log dose curve for the analgesic action of three narcotics and aspirin. Hydromorphone is more ...
Uncover the back down to the waist. Stand at the head to apply lubricant to the back using long ... Uncover the back down to the waist. Stand at the head to apply lubricant to the back using long ...
Long division of polynomials Long division of polynomials
Video: Secondary and tertiary levels of protein structure Animation

For a complete list of videos, visit our video library