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A past reverse association between the rate of unemployment and the rate of price increases in an economy is defined by Phillips curve in economics. It simply means that the lower the rate of unemployment the higher will be the rate of inflation. But there can be deducted a stable tradeoff between unemployment and inflation in the short run but this is not so in the long run.
The majority economists do not any longer make use of the Phillips curve in its inventive form since it is too naive. But still these days, tailored types of the Phillips Curve which takes into account the inflationary beliefs stay powerful. The theory has a lot of names each a bit different in details, and at the same time the modern version differentiates between short-run and long-run consequences on unemployment.
Research work, case studies, home work, reports, comparison between different economies forms an important part of the curriculum. We at assignmentwriting.org, a part of PupilBay, will help you in all your endeavors with the subject and to understand the same at a very less cost.
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