Economics A Level (DONEEEEEEE): What does the Long Run Phillips Curve do for the Bank of England and the Government?

Question

What does the Long Run Phillips Curve do for the Bank of England and the Government?

eric_galvao · Accepted Answer

-Governments need to use Policies that Stop Inflation from Continuously Rising
-Bank of England is Tasked with Keeping Inflation at 2% for Consumers Expectations to be kept at 2%. Furthermore, the Government will try to Lower Unemployment and Lower the NRU

Economics A Level (DONEEEEEEE)

What does the Long Run Phillips Curve do for the Bank of England and the Government?

-Governments need to use Policies that Stop Inflation from Continuously Rising -Bank of England is Tasked with Keeping Inflation at 2% for Consumers Expectations to be kept at 2%. Furthermore, the Government will try to Lower Unemployment and Lower the NRU

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