10 min read
This study guide covers the Phillips Curve, exploring its relationship to inflation and unemployment. It differentiates between the short-run Phillips curve (SRPC) and the long-run Phillips curve (LRPC), including how shifts in aggregate demand (AD) and short-run aggregate supply (SRAS) affect the SRPC. The guide also explains stagflation, the natural rate of unemployment, and its impact on the LRPC. Finally, it provides practice questions and exam tips for the AP Macroeconomics exam.
Give us your feedback and let us know how we can improve
Question 1 of 11
The Phillips curve illustrates the relationship between which two key economic indicators? 📈
GDP and interest rates
Inflation and unemployment
Savings and investment
Exports and imports