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Macroeconomics 19th Edition by Campbell McConnell , Stanley Brue,Sean Flynn
Edition 19ISBN: 978-0077337728Macroeconomics 19th Edition by Campbell McConnell , Stanley Brue,Sean Flynn
Edition 19ISBN: 978-0077337728 Exercise 6
Suppose that inflation iS2 percent, the Federal funds rate is 4 percent, and real GDP fallS2 percent below potential GDP. According to the Taylor rule, in what direction and by how much should the Fed change the real Federal funds rate?
Explanation
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Decrease by 1%.
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Macroeconomics 19th Edition by Campbell McConnell , Stanley Brue,Sean Flynn
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