How Are Inflation And Unemployment Related In The Short Run?

In the near run, an increase in aggregate demand for goods and services leads to a higher output of goods and services and a higher price level: the higher output reduces unemployment, but the higher prices cause inflation. What is the short-term relationship between inflation and unemployment? The Phillips curve depicts the relationship between unemployment

How Are Inflation And Unemployment Related In The Short Run? Read More »

What Are The Consequences Of Global Recession?

The recession spread as the financial crisis moved from the United States to other countries, particularly western Europe (where several big banks had extensively invested in American MBSs). Most developed countries experienced economic slowdowns of different severity (China, India, and Indonesia being prominent exceptions), and many of them responded with stimulus programs similar to the

What Are The Consequences Of Global Recession? Read More »