When the Natural Unemployment Rate Changes, What Happens to the Short-Run

question 99

Essay

When the natural unemployment rate changes, what happens to the short-run Phillips curve? To the long-run Phillips curve?

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Definitions:

Electronic Relay Switch

A switch that uses an electronic control to open or close a circuit, commonly used in vehicle electrical systems.

Scopemeter

A hand-held device that functions as DMM and an oscilloscope.

Hexadecimal Code

J1939 messages use hexadecimal code. To do this 16 numeric symbols must be used: 0 to 9 are used for the first nine digits, and the letters A through F are used to represent 10 to 16.

Labscope

A modern handheld variation of an oscilloscope; an electronic instrument in which the relationship between two variables can be graphically represented. In motive power technology, the two variables are usually time (frequency) and voltage.