- This question is based on Lectures 7 and 8.
After the early successes of industrial revolution, each of the following countries faced stagnations, recessions or depressions. Explain features of those stagnations, recessions, or depressions.
a. USA
b. UK
c. Japan
d. Germany - a. Explain Short-Run Phillips’ Curve
b. Explain Long-Run Phillips’ Curve
c. Explain reasons for the disappearance of Short-Run Phillips’ Curve
Business and Government
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