AP Macroeconomics : How to graph aggregate supply with short-run Phillips curves

Study concepts, example questions & explanations for AP Macroeconomics

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Example Questions

Example Question #1 : How To Graph Aggregate Supply With Short Run Phillips Curves

Which of the following is the best definition of the concept behind the Phillips Curve?

Possible Answers:

The relationship between net exports and GDP

The relationship between government spending and the multiplier effect

The relationship between worker pay and productivity.

The relationship between unemployment and inflation

Correct answer:

The relationship between unemployment and inflation


The Phillips Curve is meant to express the short-run tradeoff between inflation and unemployment.

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