ECON 3020 Lecture Notes - Lecture 9: Phillips Curve, Money Supply, Production Function

• School: University of Manitoba
• Department: Economics
• Course: ECON 3020
• Professor: jing Han

Document Summary

Which of the following is not in the labor force: discouraged workers, those who worked full time, but in a family business, those temporarily laid off who will be recalled soon, the unemployed, all of the above. Given this assumption, we know that m in the price setting equation p = (!+m)w will equal: p. b. Given this information, we know that labor productivity is represented by the following: 1/n, n/y, 1, n, assume that product markets become less competitive in the u. s. Now suppose a budget is passed that calls for a tax cut. 31: for this question, assume that the phillips curve equation is represented by the following: t. T-1 = ( + z) u. Suppose the us inflation rate has been 8 % for many years and the policy makers want next year"s inflation rate to be 2%. 41: for this question, assume that the phillips curve equation is represented by the following: t -