APMac Unit 5 Lesson 4 - The Phillips Curve (Modules 34-36) by jclerch https://padlet.com/jclerch/bro9qki7lj62 Long-Run Consequences of Stabilization Policies en-us 2017-01-01 17:34:32 UTC 2026-02-02 03:53:13 UTC hello@padlet.com https://padlet-uploads.storage.googleapis.com/135439946/be9a723f3033ba0efa2b8f34878c6230/IMG_12291_1mb.png jclerch https://padlet.com/jclerch/bro9qki7lj62/wish/179870013 2017-08-01 15:56:18 UTC https://padlet.com/jclerch/bro9qki7lj62/wish/179870013 Questions jclerch https://padlet.com/jclerch/bro9qki7lj62/wish/245834050 1. What is the relationship between inflation and unemployment? 

2. What is the relationship between SRAS and SRPC? 

3. What is the relationship between SRPC and changes in AD?

4. What is the relationship between inflation and unemployment in the long run? 
]]> 2018-03-25 14:56:44 UTC https://padlet.com/jclerch/bro9qki7lj62/wish/245834050 jclerch https://padlet.com/jclerch/bro9qki7lj62/wish/319815763 2019-01-11 18:41:35 UTC https://padlet.com/jclerch/bro9qki7lj62/wish/319815763 Is the Phillips Curve dead or just hiding? jclerch https://padlet.com/jclerch/bro9qki7lj62/wish/346862381 2019-03-31 08:09:11 UTC https://padlet.com/jclerch/bro9qki7lj62/wish/346862381 jclerch https://padlet.com/jclerch/bro9qki7lj62/wish/364382034 2019-05-29 15:51:49 UTC https://padlet.com/jclerch/bro9qki7lj62/wish/364382034 jclerch https://padlet.com/jclerch/bro9qki7lj62/wish/372294627 2019-07-25 16:01:23 UTC https://padlet.com/jclerch/bro9qki7lj62/wish/372294627 Essential Knowledge jclerch https://padlet.com/jclerch/bro9qki7lj62/wish/372388696 The short-run trade-off between inflation and unemployment can be illustrated by the downward-sloping short-run Phillips curve (SRPC).

An economy is always operating somewhere along the SRPC.

The long-run relationship between inflation and unemployment can be illustrated by the long-run Phillips curve (LRPC), which is vertical at the natural rate of unemployment.

Long-run equilibrium corresponds to the intersection of the SRPC and the LRPC.

Points to the left of long-run equilibrium represent inflationary gaps, while points to the right of long-run equilibrium represent recessionary gaps.

Demand shocks correspond to movement along the SRPC.

Supply shocks correspond to shifts of the SRPC.

Factors that cause the natural rate of unemployment to change will cause the LRPC to shift.
]]> 2019-07-26 14:05:11 UTC https://padlet.com/jclerch/bro9qki7lj62/wish/372388696 Enduring Understanding jclerch https://padlet.com/jclerch/bro9qki7lj62/wish/372388738 The Phillips curve model is used to represent the relationship between inflation and unemployment and to illustrate how macroeconomic shocks affect inflation and unemployment.]]> 2019-07-26 14:05:41 UTC https://padlet.com/jclerch/bro9qki7lj62/wish/372388738 Learning Objectives jclerch https://padlet.com/jclerch/bro9qki7lj62/wish/372388758 Define (using graphs as appropriate) the short-run Phillips curve and the long-run Phillips curve.

Explain (using graphs as appropriate) short-run and long-run equilibrium in the Phillips curve model.

Explain (using graphs as appropriate) the response of unemployment and inflation in the short run and in the long run.
]]> 2019-07-26 14:05:57 UTC https://padlet.com/jclerch/bro9qki7lj62/wish/372388758 jclerch https://padlet.com/jclerch/bro9qki7lj62/wish/372457284 2019-07-27 22:31:50 UTC https://padlet.com/jclerch/bro9qki7lj62/wish/372457284 jclerch https://padlet.com/jclerch/bro9qki7lj62/wish/473249772 2020-03-24 17:38:29 UTC https://padlet.com/jclerch/bro9qki7lj62/wish/473249772 jclerch https://padlet.com/jclerch/bro9qki7lj62/wish/493387335 2020-04-05 15:58:33 UTC https://padlet.com/jclerch/bro9qki7lj62/wish/493387335 Lesson Introduction jclerch https://padlet.com/jclerch/bro9qki7lj62/wish/1305611576 2021-03-13 16:46:10 UTC https://padlet.com/jclerch/bro9qki7lj62/wish/1305611576 jclerch https://padlet.com/jclerch/bro9qki7lj62/wish/1361761491 2021-03-28 18:09:42 UTC https://padlet.com/jclerch/bro9qki7lj62/wish/1361761491 jclerch https://padlet.com/jclerch/bro9qki7lj62/wish/1361762064 2021-03-28 18:10:04 UTC https://padlet.com/jclerch/bro9qki7lj62/wish/1361762064