Explain the meaning of flat Phillips curve in AD-AS framework. Compared with the steeper Phillips curve,...

Explain the meaning of flat Phillips curve in AD-AS framework. Compared with the steeper Phillips curve, when the Phillips curve is relatively flat, what is the impact of the given aggregate demand shock on the economy?

What is the possible impact of the flat Phillips curve on fiscal policy and monetary policy?

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Rahul Sunny answered 1 year ago

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