Macroeconomics 1st Edition by Dean Karlan,Jonathan Morduch

Exercise 20

Using what you know about the Phillips curve, determine whether the following quantities will increase, decrease, or remain the same.
a. Unemployment in the short run after an increase in inflation.
b. Unemployment in the long run after an increase in inflation.
c. Inflation in the short run after a decrease in unemployment.
d. Inflation in the long run after a decrease in unemployment.