What is a Phillips curve, Assuming the economy's

Question # 00578036 Posted By: dr.tony Updated on: 08/24/2017 06:20 AM Due on: 08/24/2017
Subject Economics Topic Macroeconomics Tutorials:
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Phillips curves and federal control of money supply

1. What is a Phillips curve? Assuming the economy's aggregate supply curve is stable, how would an increase in aggregate demand affect the unemployment rate and the inflation rate?
2. Consider this statement: "Banks do not create money because this is the Fed's responsibility". Do you agree or disagree?
3. What are some problems faced by the Fed in controlling the money supply?

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