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Macroeconomics 1st Edition by Dean Karlan,Jonathan Morduch
Edition 1ISBN: 978-0077332648Macroeconomics 1st Edition by Dean Karlan,Jonathan Morduch
Edition 1ISBN: 978-0077332648 Exercise 17
Assume the Phillips curve is given by the simple equation U = -I + 20. The non-accelerating rate of unemployment is 10 percent. If inflation changes to 15 percent, what will be the unemployment rate in the short run? What will it be in the long run?
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The Given information:
Philips curve eq...
Macroeconomics 1st Edition by Dean Karlan,Jonathan Morduch
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