![Assume that the economy is at the point where the short-run Phillips curve intersects the long-run Phillips curve, and that the Fed decides to lower unemployment. Graphically trace out the short-run a Assume that the economy is at the point where the short-run Phillips curve intersects the long-run Phillips curve, and that the Fed decides to lower unemployment. Graphically trace out the short-run a](https://homework.study.com/cimages/multimages/16/phillips_curve1292317112128074493.jpg)
Assume that the economy is at the point where the short-run Phillips curve intersects the long-run Phillips curve, and that the Fed decides to lower unemployment. Graphically trace out the short-run a
![Draw the short-run Phillips curve and the long-run Phillips curve. Explain why they are different. | Homework.Study.com Draw the short-run Phillips curve and the long-run Phillips curve. Explain why they are different. | Homework.Study.com](https://homework.study.com/cimages/multimages/16/un-em5914789409128404225.jpg)
Draw the short-run Phillips curve and the long-run Phillips curve. Explain why they are different. | Homework.Study.com
![The difference between short-run and long-run phillips curve with the help of an aggregate supply and demand diagram. | bartleby The difference between short-run and long-run phillips curve with the help of an aggregate supply and demand diagram. | bartleby](https://content.bartleby.com/tbms-images/9781285859460/Chapter-14/images/html_59460-14-1e_1.png)