Economics A-Level
Short-run Phillips curve
What Short-run Phillips curve means in Economics A-Level, as defined for AQA.
Definition of Short-run Phillips curve
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Reference: AQA
Illustrates a trade-off between inflation and unemployment, implying policymakers can use demand-side policies to reduce unemployment at the cost of higher inflation.
Topics that use Short-run Phillips curve
Related terms
- Cyclical unemployment
- Demand-side policies
- Economic growth
- Economic harmony
- Inflation expectations
- Inflationary pressures
- Labour market dynamics
- Long-run aggregate supply
Using Short-run Phillips curve in the exam
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