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Macroeconomics 9th Edition by David Colander
Edition 9ISBN: 978-0077501860Macroeconomics 9th Edition by David Colander
Edition 9ISBN: 978-0077501860 Exercise 9
When Professor Robert Gordon lowered his estimate of the target unemployment rate from 6 percent to 5.5 percent in early 1995, he quipped, "I've just created 600,000 jobs."
a.hat events in the 1990s most likely motivated his revision of the target unemployment rate
b.how the effect this revision would have on the AS / AD model.
c.he unemployment rate at the time of the revision was 5.5 percent.ncome was $7.3 trillion.ithin 18 months the unemployment rate had fallen to 5 percent without signs of accelerating inflation.ow much higher would the level of potential income have been in 1995 if the target unemployment rate were 5 percent rather than 5.5 percent
a.hat events in the 1990s most likely motivated his revision of the target unemployment rate
b.how the effect this revision would have on the AS / AD model.
c.he unemployment rate at the time of the revision was 5.5 percent.ncome was $7.3 trillion.ithin 18 months the unemployment rate had fallen to 5 percent without signs of accelerating inflation.ow much higher would the level of potential income have been in 1995 if the target unemployment rate were 5 percent rather than 5.5 percent
Explanation
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Verified
(a) Professor Robert Gordon has lowered ...
Macroeconomics 9th Edition by David Colander
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