The short- run Phillips curve gives much the same information as
A) the LAS curve.
B) the SAS curve.
C) the AD curve.
D) none of the above

Question

Quizplus · Accepted Answer

The short-run Phillips curve shows the inverse relationship between the unemployment rate and the inflation rate in the short run, which is primarily influenced by the supply-side factors in the economy. Similarly, the SAS curve shows the relationship between the price level and the level of aggregate output in the short run, which is also affected by the same supply-side factors, such as changes in input prices, technology, and productivity. Therefore, both the short-run Phillips curve and the SAS curve provide insights into the dynamics of the economy in the short run, which are not captured by the LAS or AD curves, which reflect the long-run equilibrium conditions of the economy.

The Short- Run Phillips Curve Gives Much the Same Information