Principles of Economics 2e
Principles of Economics 2e
2nd Edition
ISBN: 9781947172364
Author: Steven A. Greenlaw; David Shapiro
Publisher: OpenStax
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Chapter 25, Problem 5SCQ

How would a decrease in energy prices affect the Phillips curve?

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How would a decrease in energy prices affect the Phillips curve?
What is the shape of the neoclassical long-run Phillips curve? What assumptions do economists make that lead to this shape?
What is the Phillips Curve? Explain the theory behind it carefully.
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