high inflation with high unemployemnt

Unit 5 Macro Part 1 2020 version Flashcards

1

In the long run there is a trade off between inflation and unemployment

2

Changes in aggregate demand (AD) will cause

3

In the quantity theory of money equation PY is equal to...

4

The equation for the Quantity Theory of Money is

5

The Phillips curve shows that the relationship between inflation and unemployment is...

6

Changes in Aggregate Supply (AS) will cause

7

If the government spends more than it gets in tax revenue in 1 year that is a

8

The long-run Phillips curve is...

9

Stagflation is

10

Nominal GDP is equal to

Unit 5 Macro Part 1 2020 version