Paper Assignment
o Evaluate the historical relationship between unemployment and inflation. (Hint: You may start from A.W. Phillips's finding of the relationship between unemployment and inflation.)
o Distinguish between the short-run and the long-run in a macroeconomic analysis. Why is the relationship between unemployment and inflation different in the short-run and the long-run?
o Assess the recent 20-year U.S. unemployment and inflation data. Do the current U.S. unemployment and inflation data confirm the short-run Phillips curve?
o Analyze why the recent 20-year U.S. unemployment and inflation data approves or disproves the short-run Phillips curve.
o Evaluate whether the Phillips curve can still validly resolve today's issue of unemployment and inflation and forecast unemployment and inflation. Why or why not?
o Recommend any policy, method, or opinions for the current U.S. unemployment and inflation as a policy maker for either fiscal policy or monetary policy (or both).
Format your assignment according to the following formatting requirements:
o The answer should be typed, using Times New Roman font (size 12), double spaced, with one-inch margins on all sides.
o The response also includes a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
o Also include a reference page. The Citations and references must follow APA format. The reference page is not included in the required page length.