Hey Everyone! I'm Mr. Willis, and You Will Love Economics! In this video, I will: - Review the origins of the Phillips curve - Discuss the inverse relationship between the inflation rate and the unemployment rate in the short-run, leading to a downward-sloping short-run Phillips curve - Discuss the constant relationship between the inflation rate and the natural rate of unemployment in the long-run, leading to a perfectly vertical long-run Phillips curve - Practice graphing how changes in aggregate demand will change the inflation rate and the unemployment rate on a short-run Phillips curve - Practice graphing how changes in short-run aggregate supply will change the inflation rate and the unemployment rate on a short-run Phillips curve - Practice graphing how changes in long-run aggregate supply will change the inflation rate and the natural rate of unemployment on a long-run Phillips curve Are you looking to teach this topic in your class?