a) Explain the relationship between unemployment and inflation using the concept of Philips curve. What are...

a) Explain the relationship between unemployment and inflation using the concept of Philips curve. What are the critics on Philips Curve?

b) Use the Phillips Curve to explain policy responses to a supply shock caused by increase in the world price of oil

c) Discuss Walras's Law statement that the sum of the nominal excess demands for all goods in the economy must be zero.

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Rahul Sunny answered 3 months ago

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