Description
In the Ten Principles video Dr. Todd Buchholz and Dr. Caroline Hoxby debated the very existence of the Phillips Curve.
Dr. Hoxby indicated she was taking bets that the Phillips Curve is alive and well. The problem may just be that it moves around and possibly changes shape occasionally.
Policy makers like Congress and the Federal Reserve seek to steer the US economy to a sweet spot where we have low unemployment and only moderate inflation. The Phillips Curve is supposed to describe the trade-off between higher inflation and lower unemployment. Does it?
Instructions
Read the Business Insider article: Japan can help us better understand one of the biggest puzzles facing the US economy
QUESTION 1
Using data from the Bureau of Labor Statistics, what is the current level of unemployment?
Be sure to include the link to where you have found your information.
QUESTION 2
Using the data from the Bureau of Labor Statistics, what is the current level of inflation?
Be sure to include the link to where you have found your information.
QUESTION 3
Are these high or low compared to the historical averages of the United States?
QUESTION 4
Should policy makers ignore the ‘historically observed Phillips Curve relationship’ and push unemployment even lower? Explain your thoughts.
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.
Read moreEach paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.
Read moreThanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.
Read moreYour email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.
Read moreBy sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.
Read more