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Draw a Short Run and Long-Run Phillips Curve

question 78

Essay

Draw a short run and long-run Phillips curve.Why is the shape of the short-run Phillips curve different from the shape of the long-run Phillips curve?


Definitions:

Social Smile

A developmental milestone where infants begin to smile in response to social interactions, typically emerging around 2 to 3 months of age.

Emerge

To come into view, become apparent or known, especially after being hidden or unknown.

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An infant in its very first weeks of life, especially before they are one month old.

Distress

A state of emotional, mental, or physical strain or tension resulting from adverse or demanding circumstances.

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