The Phillips Curve- Macro Topic 5.2

Hey students. In this video I show you how to draw and shift the Phillips curve. Remember that there are two curves: the short-run Phillips curve and the long-run Phillips curve.

The best way to understand them is to remember what you learned in Unit 3 about aggregate demand and supply. A shift in aggregate demand shifts along the short-run Phillips curve. A shift in aggregate supply shifts the entire short-run Phillips curve. Thanks for watching.

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The answers to the pop quiz are in the first comment below