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Defining YtY _ { t } As Current Output Yˉt\bar { Y } _ { t }

Question 35

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Defining YtY _ { t } as current output, Yˉt\bar { Y } _ { t } as potential output, and Y~t\tilde { Y } _ { t } as short-run fluctuations, the relationship between the three can be written as Yt=Y~t−YˉtY _ { t } = \tilde { Y } _ { t } - \bar { Y } _ { t } .

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