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Solve the problem.
-A certain army is engaged in guerrilla warfare. It has two ways of getting supplies to its troops: it can send a convoy up the river road or it can send a convoy overland through the jungle. On a given day, the guerrillas can watch only one of the two roads. If the convoy goes along the river and the guerrillas are there, the convoy will have to turn back and 4 army soldiers will be lost. If the convoy goes overland and encounters the guerrillas, of the supplies will get through, but 6 army soldiers will be lost. Each day a supply convoy travels one of the roads, and if the guerrillas are watching the other road, the convoy gets through with no losses. What is the optimal strategy for the army if it wants to minimize its casualties?
Phillips Curve
A concept in economics that demonstrates an inverse relationship between the rate of unemployment and the rate of inflation.
Shift
In economics, a change in the position of a demand or supply curve which reflects a change in conditions other than price.
Adverse Supply Shock
A sudden and significant decrease in the supply of a good or service, which typically leads to an increase in prices and can temporarily boost inflation.
Short-run Phillips Curve
A graphical representation showing the inverse relationship between the level of unemployment and the rate of inflation in an economy over the short-term.
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