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Macroeconomics 12th Edition by Rudiger Dornbusch ,Stanley Fischer,Richard Startz
Edition 12ISBN: 978-1259070969Macroeconomics 12th Edition by Rudiger Dornbusch ,Stanley Fischer,Richard Startz
Edition 12ISBN: 978-1259070969 Exercise 7
Use equations (11) and (12) to check the effects of anticipated and unanticipated supply shocks on the level of output. Show that they behave as they would in a perfect-foresight model when anticipated and as they would in the standard AS-AD model when unanticipated.
Explanation
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The equations describe the relation betw...
Macroeconomics 12th Edition by Rudiger Dornbusch ,Stanley Fischer,Richard Startz
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