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What is meant by the Philips curve?
Myhomeworkhelp.com gives you a detailed understanding on the topic Philips Curve. It is a curve that depicts the combination of inflation and unemployment. This situation may occur in short run which there is a shift in aggregate demand curve which moves along with short run aggregate supply curve.
Though this concept appears to be invalid in the long run, but Philips curve have been adopted in different forms and situation to understand inflation. Philips Curve assignment help will also give you knowledge about the evolution of the curve and its relationship between inflation and unemployment.
Philips Curve- critics view
There are economists who would agree that in case of short term, there is a possibility of trade off between inflation and unemployment. Monetarists would argue that the trade off is only valid for short-term and will only experience inflation. Monetarists would place the stress on supply side of economy.
Philips curve assignment help will also reflect the Keynesian argument that says about the demand deficient unemployment that can also persist in long run.
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