Economics
- ISBN-10
- 0075491591
- ISBN-13
- 9780075491590
- Series
- Economics
- Category
- Economics
- Pages
- 834
- Language
- English
- Published
- 1987
- Authors
- Paul Wonnacott, Ronald J. Wonnacott, Ake G. Blomqvist
Description
The long - run Phillips curve is vertical . There is an equilibrium or “ natural ” rate of unemployment which is independent of the rate of inflation . 2. If demand is stimulated by however much is needed to keep the unemployment rate ...
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