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Based on the given Phillips curve, answer following argument by T (true) or F (false). = -(U-), = # (price increase rate of previous period).
Based on the given Phillips curve, answer following argument by T (true) or F (false). = -(U-), = # (price increase rate of previous period). (1)The more flexible the price is, tends to be larger. (2)Increase rate of unemployment to reduce price increase rate is proportional to (3)If price increase rate is higher than expected, unemployment rate is lower than natural rate of unemployment (4)In short run, unemployment rate is determined by price increase of previous period
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