How is the short run Philips curve being used today (2020) in
the USA? Give one example of the method being practiced today. What
is the expected gain?
Some countries have had Philips curve results completely
contrary to the results expected in part A. Chile under President
Salvatore Allende (1971-1973) and Venezuela from President Hugo
Chavez (and continuing today with his successor) are examples of
Philips curve based policies that have failed. Milton Friedman, and
others, have warned that a...