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    Macroeconomics Study Set 8
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    Exam 13: Unemployment and Inflation
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    Using a Graph and an Equation,explain the Short-Run and the Long-Run
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Using a Graph and an Equation,explain the Short-Run and the Long-Run

Question 71

Question 71

Essay

Using a graph and an equation,explain the short-run and the long-run Phillips curve.What makes these two curves different?

Correct Answer:

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See equation 13.1.
Equation (13.1)descri...

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