Suppose the United States exports cars to France and imports cheese from Switzerland. This situation suggests that
Recently Asked Questions
- Is the Fed's current monetary policy contractionary or inflationary ? Explain why you think so. Is this policy in line with SR Phillips curve or with LR
- Explain the importance of understanding the conceptual framework of the SR and LR Phillips curve for economic policy implication in the US economy.
- Draw a hypothetical diagram of the AD-AS model of macroeconomics and explain the source of accelerating inflation. Provide historical evidence as an example.