Does the Short-Run Phillips Curve Have a Positive or Negative

question 213

Essay

Does the short-run Phillips curve have a positive or negative slope? Explain how this slope is derived.

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Definitions:

Subcontrary Propositions

In traditional logic, propositions that cannot both be false but can both be true.

Existential Import

The assumption within a statement that asserts the existence of the subject matter it mentions.

Affirmative Subalternate

A proposition that is universally affirmative, implying a particular affirmative proposition as well.

Subcontraries

In the traditional square of opposition, a pair of propositions that, in virtue of their logical form, could both be true but could not both be false (I and O).