Exploring Macroeconomics
Exploring Macroeconomics
8th Edition
ISBN: 9781544363332
Author: Robert L. Sexton
Publisher: Sage Publications
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Chapter 19, Problem 10P
To determine

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Whether the data presented in the given table about a short run Phillips curve is consistent with the theory. The reason must be explained.

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Why is the long run Philips curve vertical? What is a cost push shock? Does any increase in wages be considered a cost push shock? What are its economic implications.
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