If expected inflation rises, the long-run Phillips curve will

1 answer:

4 0

Even though the Phillips curve is an empirical model has historically shown that the rate of unemployment and the rate inflation is inversely proportional, this is only observed in the short-run. In a graph, this is shown as non-linear.

The Long-run Phillips curve, on the other hand, is linear. This means that there's no constant trade-off with regard to inflation & unemployment.

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<h3>What is Kaspar Corporation's cost per unit?</h3>

This can be found as:
= Direct materials + Direct labor + Variable manufacturing overhead + Fixed manufacturing overhead per unit + Variable selling and administrative expenses + Fixed selling and administrative expenses per unit

Solving gives:

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