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INFLATION RATE (Percent) 9 8 76643 SRPC SRPC 7 8 9 10 1 2 3 4 5 6 UNEMPLOYMENT RATE (Percent) Refer to Figure 36-4. If the economy starts at 5% unemployment and 5% inflation then if the Federal Reserve pursues a contractionary monetary policy, in the short run economy moves to the 3% unemployment and 5% inflation. In the long run the economy moves to 5% unemployment and 5% inflation. 3% unemployment and 5% inflation. In the long run the economy moves to 5% unemployment and 3% inflation. 7% unemployment and 3% inflation. In the long run the economy moves to 5% unemployment and 5% inflation. 7% unemployment and 3% inflation. In the long run the economy moves to 5% unemployment and 3% inflation.

INFLATION RATE (Percent) 9 8 76643 SRPC SRPC 7 8 9 10 1 2 3 4 5 6 UNEMPLOYMENT RATE (Percent) Refer to Figure 36-4. If the economy starts at 5% unemployment and 5% inflation then if the Federal Reserve pursues a contractionary monetary policy, in the short run economy moves to the 3% unemployment and 5% inflation. In the long run the economy moves to 5% unemployment and 5% inflation. 3% unemployment and 5% inflation. In the long run the economy moves to 5% unemployment and 3% inflation. 7% unemployment and 3% inflation. In the long run the economy moves to 5% unemployment and 5% inflation. 7% unemployment and 3% inflation. In the long run the economy moves to 5% unemployment and 3% inflation.

Principles of Macroeconomics (MindTap Course List)
Principles of Macroeconomics (MindTap Course List)
7th Edition
ISBN:9781285165912
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter22: The Short-Run Trade-off Between Inflation And Unemployment
Section: Chapter Questions
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INFLATION RATE (Percent) 9 8 76643 SRPC SRPC 7 8 9 10 1 2 3 4 5 6 UNEMPLOYMENT RATE (Percent) Refer to Figure 36-4. If the economy starts at 5% unemployment and 5% inflation then if the Federal Reserve pursues a contractionary monetary policy, in the short run economy moves to the 3% unemployment and 5% inflation. In the long run the economy moves to 5% unemployment and 5% inflation. 3% unemployment and 5% inflation. In the long run the economy moves to 5% unemployment and 3% inflation. 7% unemployment and 3% inflation. In the long run the economy moves to 5% unemployment and 5% inflation. 7% unemployment and 3% inflation. In the long run the economy moves to 5% unemployment and 3% inflation.
Transcribed Image Text:INFLATION RATE (Percent) 9 8 76643 SRPC SRPC 7 8 9 10 1 2 3 4 5 6 UNEMPLOYMENT RATE (Percent) Refer to Figure 36-4. If the economy starts at 5% unemployment and 5% inflation then if the Federal Reserve pursues a contractionary monetary policy, in the short run economy moves to the 3% unemployment and 5% inflation. In the long run the economy moves to 5% unemployment and 5% inflation. 3% unemployment and 5% inflation. In the long run the economy moves to 5% unemployment and 3% inflation. 7% unemployment and 3% inflation. In the long run the economy moves to 5% unemployment and 5% inflation. 7% unemployment and 3% inflation. In the long run the economy moves to 5% unemployment and 3% inflation.
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