2.3 Macroeconomic Objectives
{"Image DocumentName": "2.3 Macroeconomic Objectives", "Image ImageDescription": "Phillips Curve. Supply Shocks in the Short-run Phillips Curve. As we have shown, a shift in AD causes a movement along the short-run Phillips Curve. However, a shift in SRAS will cause a shift in the short-run Phillips Curve. As seen below, a negative supply shock causes both unemployment and inflation to rise. This is seen as a rightward shift of the Phillips Curve.", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}