Purchase Solution

Analyzing the Phillips Curve

Not what you're looking for?

Ask Custom Question

What is Phillips curve? Who was Phillips? What is the relationship between inflation, nominal GDP growth and real GDP growth?

Purchase this Solution
Solution Summary

Notes about the theory regarding the Phillips curve, and the relationship inflation has to nominal and real GDP growth.

Solution Preview

Hello;

My name is Jason Blair and it is my pleasure assisting you with some notes today related to the Phillips curve, nominal GDP growth, and real GDP growth. By way of introduction, I am a professor in the state of Arizona.

The Phillips Curve was aptly named after its creator, economist A. W. Phillips. This curve is designed to represent the relationship between inflation and unemployment - namely that they have an ...

Solution provided by:
Jason Blair, MA, PhD (IP)
Education
  • BA, Arizona State University
  • MA, University of Phoenix
  • PhD (IP), North Central University
Recent Feedback
  • "thk u"
  • "Thk u"
  • "Thk u"
  • "Thank you! Posted one more."
  • "Thk u"
Purchase this Solution
Free BrainMass Quizzes
Basics of Economics

Quiz will help you to review some basics of microeconomics and macroeconomics which are often not understood.

Elementary Microeconomics

This quiz reviews the basic concept of supply and demand analysis.

Economics, Basic Concepts, Demand-Supply-Equilibrium

The quiz tests the basic concepts of demand, supply, and equilibrium in a free market.

Pricing Strategies

Discussion about various pricing techniques of profit-seeking firms.

Economic Issues and Concepts

This quiz provides a review of the basic microeconomic concepts. Students can test their understanding of major economic issues.

View More Free Quizzes
Related BrainMass Solutions

  • Phillips Curve Relationship

    Step 2 Currently, the Phillips curve takes into consideration expectations. The short-run Phillips curve is also called the expectations augmented Phillips curve. It shifts to the right when inflation expectation rises.

  • one short-run Phillips curve to a lower short-run curve

    16666 One Short-Run Phillips Curve to a Lower Short-Run Curve An economy can expect to move from one short-run Phillips curve to a lower short-run curve if: A) the rate of inertial inflation rises.

  • Macroeconomics questions

    The shape of the Phillips curve is a downward sloping curve from left to right. 8.The expectation augmented Phillips curve differs from the original Phillips curve in that: a.

  • Phillips Curve Multiple Choice

    to a) Permanently shift both short-run Phillips Curve and aggregate demand b) Temporarily shift the short-run Phillips Curve and to permanently increase aggregate demand c) Permanently shift the short-run Phillips Curve and to temporarily increase

  • Ramifications of unemployment

    Similarly, an increase in the natural unemployment rate will shift the Phillips Curve: An increase in the natural unemployment rate shifts the Phillips Curve up and to the right (Friedman-Phelps theory).

  • Business Communications: Inflation tables, Unemployment Tables, Interest Rate Tables

    Mathematics behind the Phillips curve The Phillips curve equation can be derived from the short-run aggregate supply equation.

  • Goals of US monetary policy and their consistency

    As the unemployment rate falls in response to the economy moving closer to capacity, the price level rises more quickly. Shown by Phillips Curve . In the long run the AS curve is vertical, and so is the Phillips curve.

  • Historical Relationship Between Inflation and Unemployment

    The Phillips curve is often used to describe this relationship: (though the curve should be smoother than I have drawn). You can see from the Phillips curve that when inflation is highest, unemployment is lowest.

  • Unemployment and inflation

    How the phillips curve illustrates the relationship between unemployment and inflation

View More Related Solutions