look closely at the segme

look closely at the segme

look closely at the segment of the diagram that plots inflation/unemployment points for the years 1961 to 1969. do you think that segment of the chart is the best interpreted as a set of points from a single Phillips curve, or as set of points from a set of short-run Phillips curve that shifts over time? Explain the reason for your answer, based both on your understanding of the Phillips curve and on information contained in the text of the box.PLEASE SEE DIAGRAM ON PAGE 315 in this link:

%d bloggers like this: