The Phillips curve gives the relationship between the country's inflation rate and its unemployment rate at a given set of inflationary expectations. An unexpected expansion of aggregate demand will reduce the rate of unemployment because wage and price setters do not increase wages and prices all the way to the new long-run equilibrium. In the long-run when workers and firms realize that aggregate demand has increased wages and prices will rise all the way and the Phillips curve will shift up to the point where the new inflation rate will be consistent with the natural rate of unemployment. Any expectation of an increase in the inflation rate will cause the Phillips curve to shift up; a higher rate of inflation will be consistent with each level of unemployment.
In which Indian state is the annual Makaravilakku festival celebrated on the day of Makar Sankranti?
In which year did the journey of Exchange Traded Funds (ETFs) commence in India, marked by the launch of the first ETF by Nippon India Mutual Fund base...
How many new member countries have been included in the BRICS organisation during the 15th BRICS Summit?
Who founded the Hindu reform organisation Brahmo Samaj?
Bajrang Punia is related to which of the following sports?
Match the following correctly?
Which of the following is NOT a synovial joint in the human body?
Who among the following contemporary style dancers was the first Indian dancer to receive the dance WEB Europe Scholarship? He/She also won the 2002 Am...
________ land is suitable for cropping on a regular basis.
According to the list of Hurun Richest Self-Made Women In The World 2022 released by the Hurun Research Institute, which country has topped it?