3.3.9 (HL)—Phillips curve and macroeconomic trade-offs Topic Practice
3.3.9 (HL)—Phillips curve and macroeconomic trade-offs Topic Practice
Students practise drawing and interpreting short-run and long-run Phillips curves—and explaining shifts using structural unemployment or expectations.
How this is tested
- draw a vertical long-run Phillips curve at the natural rate and label it clearly on a diagram with axes
- explain SRPC shifts using supply-side shocks and inflation-unemployment trade-offs
- interpret data points showing simultaneous rising inflation and unemployment 2018 Buranda