DP Economics Questionbank
Possible relationships between unemployment and inflation
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Description
[N/A]Directly related questions
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20N.1.HL.TZ0.3a:
Explain why there is a possible trade-off between the unemployment rate and the inflation rate in the short run.
- 21M.3.HL.TZ0.2f.i: With reference to the short-run Phillips curve, describe the relationship between inflation and...
- 21M.3.HL.TZ0.2f.ii: Outline how the data for the period 2016 to 2018 may reflect a change in the short-run Phillips...
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18M.3.HL.TZ0.2c:
The natural rate of unemployment in Country Alpha is 5 %.
On the diagram draw and label the long-run Phillips curve (LRPC).
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18M.3.HL.TZ0.2b.i:
Using the graph, determine short-run values for the unemployment rate in 2016 and the inflation rate in 2018. Enter your answers in Table 2 below.
Table 2
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18M.3.HL.TZ0.2d.ii:
Explain the reason for your answer to part (d) (i).
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18M.3.HL.TZ0.2b.ii:
The government in Country Alpha reduces income taxes in 2019.
Using information from the graph to support your answer, explain the likely effect on the inflation rate and the unemployment rate. -
18M.3.HL.TZ0.2d.i:
The price of oil is expected to rise significantly, causing a sustained increase in energy costs.
Describe the likely effect of this sustained cost increase on the short-run Phillips curve (SRPC).
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21N.3.HL.TZ0.3i:
Calculate the total welfare loss resulting from the imposition of the tariff on chia seeds.
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19M.1.HL.TZ2.3b:
Discuss the view that there will always be a trade-off between the unemployment rate and the inflation rate.
- 19N.3.HL.TZ0.2g: Outline the meaning of the natural rate of unemployment, with reference to the long-run Phillips...
