If the Short-Run Phillips Curve Shifts Rightward, What Happens to the Relationship

question 153

Essay

If the short-run Phillips curve shifts rightward, what happens to the relationship between inflation and unemployment? If the short-run Phillips curve shifts leftward, what happens to the relationship between inflation and unemployment?

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Definitions:

Driving Forces

Refer to factors or elements that push towards the initiation and implementation of change within an organization or system, aiming to achieve a desired outcome.

Change Process

A sequence of steps or activities that an organization goes through to effect change.

Old Routines

Established habits or ways of doing things that are often resistant to change.

Role Patterns

Refers to the typical behaviors, responsibilities, and expectations associated with particular positions or roles within an organization or social setting.