Conceptual Macroeconomics questions-

1. How does the aggregate supply and phillips curves are related to each other. Can any information be derived from one that cannot be derived from the other?

2. How do short-and long-term phillips curves differ? (Hint: In the long run, we return to a classical world.)

3. Explain how the ability of inflation expectations to shift the phillips curve helps the economy to adjust, automatically, to aggregate supply and demand shocks.