Phillips Curve | Trade-off between employment and inflation

This video describes about Phillips curve, the trade-off between employment and inflation
#phillipscurve
#economics
#awphillips
#employment
#inflation

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00:02 Phillips Curve shows inverse relationship between inflation and unemployment
01:48 The Phillips Curve failed to explain stagflation in the 1970s
03:28 The Phillips Curve explains the trade-off between employment and inflation.
05:03 Short-run Phillips Curve and Long-run Phillips Curve explained
06:40 Government implements expansionary policy to reduce unemployment and increase inflation rate.
08:09 Inflation leads to reduced unemployment rate.
09:42 Impact of rising prices on wages and employment
11:13 In the short term, there is an inverse relationship between unemployment and inflation.

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