By the end of this section, you will be able to: Explain …
By the end of this section, you will be able to:
Explain the Phillips curve, noting its impact on the theories of Keynesian economics Graph a Phillips curve Identify factors that cause the instability of the Phillips curve Analyze the Keynesian policy for reducing unemployment and inflation
By the end of this section, you will be able to: Discuss …
By the end of this section, you will be able to:
Discuss why and how economists measure inflation expectations Analyze the impacts of fiscal and monetary policy on aggregate supply and aggregate demand Explain the neoclassical Phillips curve, noting its tradeoff between inflation and unemployment Identify clear distinctions between neoclassical economics and Keynesian economics
Not everyone who isn't working is considered unemployed. Learn how the official …
Not everyone who isn't working is considered unemployed. Learn how the official rate of unemployment is calculated in this video, and learn what it means to be officially unemployed. Created by Sal Khan.
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