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Edexcel A-Level Economics AS 2.3.6 2a Inflation and Unemployment Including the Short Run Phillips Between Curve Questions

Practise analysing the inflation-unemployment trade-off, using short-run Phillips curve logic, data and country examples to evaluate policy conflict.

Syllabus
First assessment 2019
Course
Economics YEC11
Level
AS

Exam points

  • identify the short-run Phillips curve as an inverse relationship between inflation and unemployment
  • analyse how lower unemployment can raise consumption, AD, wages and demand-pull or cost inflation
  • explain how anti-inflation monetary policy can lower AD and inflation but increase unemployment
  • evaluate the trade-off using spare capacity, supply-side gains, informal work and cost-push shocks

Edexcel A-Level Economics AS 2.3.6 2a Inflation and Unemployment Including the Short Run Phillips Between Curve Questions question 1

[Maximum number: 1]

Which one of the following illustrates the conflict between the macroeconomic objectives of a low rate of inflation and a low rate of unemployment?

A

A long-run classical AS curve

B

An AD curve

C

A short-run Phillips curve

D

A SRAS curve

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