How shifts in aggregate demand and supply impact the Phillips curve
In short: This video explores the relationship between the AD-AS model and the Phillips curve. It explains how changes in these fundamental economic models are linked, providing essential context for understanding macroeconomic performance.
This clip presents the long-run Phillips curve, illustrating how shifts within the aggregate demand-aggregate supply (AD-AS) framework relate to movements in the Phillips curve model. Understanding these links is vital for grasping how a nation's economic performance—including unemployment, inflation, interest rates, and growth—is determined and improved over time.
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Sources
- Summary by Intellect · source: Changes in the AD-AS Model and the Phillips curve | APⓇ Macroeconomics | Khan Academy
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