Question: 3. How do changes in the expected inflation rate account for the behavior of the Phillips curve in the 1960s, 1970s, and 1980s in the

3. How do changes in the expected inflation rate account for the behavior of the Phillips curve in the 1960s, 1970s, and 1980s in the United States? What role do supply shocks play in explaining the behavior of the Phillips curve in the United States?

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