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What Is the Relationship Between the Short-Run Phillips Curve and the Long-Run

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What is the relationship between the short-run Phillips curve and the long-run Phillips curve?


Definitions:

Sympathetic Nervous System

Part of the autonomic nervous system that prepares the body for quick action in emergencies; "fight or flight" response.

Parasympathetic Nervous System

Part of the autonomic nervous system responsible for rest and digestion, counterbalancing the sympathetic nervous system's fight or flight response.

Behavioral Observation

A method used in psychological research and practice where the actions or behaviors of subjects are watched and recorded.

Physiological Measurement

The process of assessing the biological functions and processes of the human or animal body, often for the purpose of diagnosing diseases or assessing health.

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