Macroeconomics: Canada in the Global Environment |
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The Phillips Curve Review ecisions to work and produce are based on forecasts
of inflation, but the returns to firms and workers depend on actual inflation. Wrong
inflation forecasts impose costs on firms and workers. To mmimize those costs, ...
The Phillips Curve Review ecisions to work and produce are based on forecasts
of inflation, but the returns to firms and workers depend on actual inflation. Wrong
inflation forecasts impose costs on firms and workers. To mmimize those costs, ...
˹éÒ 874
Chapter 31 Inflation Figure 31.8 The Short-Run Phillips Curve 6 12
Unemployment rate (percentage of labour force) The short-run Phillips curve 5/?
PCshows the relationship between inflation and unemployment at a given
expected inflation ...
Chapter 31 Inflation Figure 31.8 The Short-Run Phillips Curve 6 12
Unemployment rate (percentage of labour force) The short-run Phillips curve 5/?
PCshows the relationship between inflation and unemployment at a given
expected inflation ...
˹éÒ 875
Inflation over the Business Cycle: The Phillips Curve a a M H a H a « ft a. To see
why the short-run Phillips curve shifts when the expected inflation rate changes,
let's do an experiment. The economy is at full employment and a fully anticipated
...
Inflation over the Business Cycle: The Phillips Curve a a M H a H a « ft a. To see
why the short-run Phillips curve shifts when the expected inflation rate changes,
let's do an experiment. The economy is at full employment and a fully anticipated
...
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Introduction | 1 |
What Is Economics? | 5 |
Making and Using Graphs | 27 |
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aggre aggregate demand curve aggregate expenditure curve aggregate planned expenditure aggregate supply curve amount autonomous expenditure Bank of Canada billion hours billions of 1986 business cycle capital cars Chapter consumption expenditure consumption function curve for real decrease deficit deposits disposable income dollars equilibrium expenditure example expected exports factors factors of production falls Figure firms fiscal policy fluctuations GDP deflator government purchases graph growth households inflation rate investment demand curve long-run aggregate supply macroeconomic marginal propensity ment million tapes monetary policy money supply money wage rate multiplier open market operation opportunity cost output percent Phillips curve price level production possibility frontier quantity demanded quantity of labour quantity of money quantity of real quantity supplied Real GDP billions real GDP increases real interest rate real wage rate recession relationship rises short-run aggregate supply slope tapes a week taxes tion trade transfer payments unemployment rate