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The lecture discusses the relationship between inflation, output, and unemployment, highlighting the causes of inflation such as demand-pull and cost-push factors. It introduces the Phillips Curve, which illustrates the inverse relationship between inflation and unemployment, and explores various policy responses to combat inflation and unemployment. Economists may disagree on the best approaches to stabilize the economy, including the use of fiscal and monetary policies.

Author

Anh Thư Nguyễn Đặng

Language

EN