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Author Question: Explain the Phillips curve. What will be an ideal response?[br][br][b][color=#FA1639]Question ... (Read 32 times)

Bob-Dole

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on: Jun 30, 2018
Explain the Phillips curve.
 
  What will be an ideal response?

Question 2

Explain Okun's Law.
 
  What will be an ideal response?


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Sarahjh

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Reply #1 on: Jun 30, 2018
Answer to Question 1

It shows the negative relationship between inflation rate and unemployment rate. After 1970s, it was redefined as the relationship between the change in the rate of inflation and the unemployment rate.

Answer to Question 2

It shows the relationship between GDP growth and unemployment rate. If output growth is high, unemployment will decrease.


Bob-Dole

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Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

scottmt

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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