Explain Short-Run Phillips Curve

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Reference no: EM133184676

Question 1.

Question is based on Lectures 7 and 8.

After the early successes of industrial revolution, each of the following countries faced stagnations, recessions or depressions. Explain features of those stagnations, recessions, or depressions.

a. USA

b. UK

c. Japan

d. Germany

Question 2.

a. Explain Short-Run Phillips' Curve.

b. Explain Long-Run Phillips' Curve.

c. Explain reasons for the disappearance of Short-Run Phillips' Curve.

Reference no: EM133184676

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