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* 第11章 通货膨胀与失业的取舍 一 菲利普斯曲线 二 短期菲利普斯曲线 三 长期菲利普斯曲线 一、菲利普斯曲线 * Unemployment Rate (percent) 0 Inflation Rate (percent per year) Phillips curve 4 B 6 7 A 2 二、短期菲利普斯曲线 * Quantity of Output 0 Short-run aggregate supply (a) The Model of Aggregate Demand and Aggregate Supply Unemployment Rate (percent) 0 Inflation Rate (percent per year) Price Level (b) The Phillips Curve Phillips curve Low aggregate demand High aggregate demand (output is 8,000) B 4 6 (output is 7,500) A 7 2 8,000 (unemployment is 4%) 106 B (unemployment is 7%) 7,500 102 A 三、长期菲利普斯曲线 Unemployment Rate 0 Natural rate of unemployment Inflation Rate Long-run Phillips curve B High inflation Low inflation A 2. . . . but unemployment remains at its natural rate in the long run. 1. When the Fed increases the growth rate of the money supply, the rate of inflation increases . . . How the Phillips Curve is Related to Aggregate Demand and Aggregate Supply Quantity of Output Natural rate of output Natural rate of unemployment 0 Price Level P Aggregate demand, AD Long-run aggregate supply Long-run Phillips curve (a) The Model of Aggregate Demand and Aggregate Supply Unemployment Rate 0 Inflation Rate (b) The Phillips Curve 2. . . . raises the price level . . . 1. An increase in the money supply increases aggregate demand . . . A AD2 B A 4. . . . but leaves output and unemployment at their natural rates. 3. . . . and increases the inflation rate . . . P2 B