Question: Draw a properly labeled Phillips Curve.What does it imply about the relationship between inflation and unemployment rates?Is this a short run relationship or a long-run

Draw a properly labeled Phillips Curve.What does it imply about the relationship between inflation and unemployment rates?Is this a short run relationship or a long-run relationship?In the context of a Phillips Curve model, what do we expect the unemployment rate will be in long run equilibrium?What economist famously criticized the Phillips Curve model in the late 1960s?

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