What role does phillips curve play in the short-run model, Macroeconomics

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What role does phillips curve play in the short-run model

Problem

What is the Phillips curve? What role does it play in the short-run model? Explain the role played by each term in the equation for the Phillips curve.

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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