APPLY THE PRINCIPLE

Question 1:

Using data from the Bureau of Labor Statistics, what is the current level of unemployment?

Be sure to include the link to where you have found your information.

Question 2:

Using the data from the Bureau of Labor Statistics, what is the current level of inflation?

Be sure to include the link to where you have found your information.

Question 3:

Are these high or low compared to the historical averages of the United States?

Question 4:

Should policy makers ignore the ‘historically observed Phillips Curve relationship’ and push unemployment even lower? Explain your thoughts.