Macro: Unit 3.6 -- The Phillips Curve

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In this video, I will:
    - Review the origins of the Phillips curve
    - Discuss the inverse relationship between the inflation rate and the unemployment rate in
      the short-run, leading to a downward-sloping short-run Phillips curve
    - Discuss the constant relationship between the inflation rate and the natural rate of
      unemployment in the long-run, leading to a perfectly vertical long-run Phillips curve
    - Practice graphing how changes in aggregate demand will change the inflation rate and
      the unemployment rate on a short-run Phillips curve
    - Practice graphing how changes in short-run aggregate supply will change the inflation rate
      and the unemployment rate on a short-run Phillips curve
    - Practice graphing how changes in long-run aggregate supply will change the inflation rate
      and the natural rate of unemployment on a long-run Phillips curve


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