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3. This question is about alternate theories of the so called 'flattening' of the Phillips curve. To answer this question, use the following form of

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3. This question is about alternate theories of the so called 'flattening' of the Phillips curve. To answer this question, use the following form of the Phillips Curve: * = Bi(w - ") + BE,[miti] + v Where wt is unemployment in the United States. A flattening refers to the coefficient S getting smaller. (a) What theory did Jorgensen and Lansing (2019) offer for the flattening of the Phillips of the curve (pretend you're explaining it to a journalist)? (b) Suppose firms are employing more and more workers from abroad. There- fore, their marginal costs are made up of both domestic wages and international wages. How might this fact provide an alternative/complementary explanation for the flattening of the Phillips curve

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