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madam [21]
3 years ago
14

There is a different​ short-run Phillips curve for every level of the​ ___________ inflation rate. The inflation rate at which t

he​ short-run Phillips curve intersects the​ long-run Phillips curve equals the​ ___________ inflation rate.\
Business
1 answer:
lions [1.4K]3 years ago
6 0

Answer: expected; expected

Explanation:

The Phillips curve is an economic concept whereby it is stated that there is a stable and inverse relationship between inflation and the unemployment in an economy.

According to this theory, inflation is as a result of economic growth and this will lead to reduction in unemployment.

There is a different​ short-run Phillips curve for every level of the​ expected inflation rate. The inflation rate at which the​ short-run Phillips curve intersects the​ long-run Phillips curve equals the​ expected inflation rate.

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