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- How can you show an output gap on the vertical phillips curve model?(can use the full inflation targeting model if that helps)What is the short-run relationship between the unemployment rate and inflation rate as explained by the economist Phillips?Graphically derive short run Phillips curve with the help of aggregate demand and supply and demand.
- According to the modern interpretation, which of the following is true of the Phillips curve? a. It has a negative slope in the short run. b. It is vertical in the long run. c. Neither A nor B d. Both A and BA movement to the right along a given short-run Phillips Curve could be caused by? Answer correctly please. I"As the economy moves upward along its aggregate supply curve, the economy also moves upward along its short-run Phillips curve." Is the previous statement correct or incorrect?