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Author Question: Refer to Figure 17-2. Suppose the economy is at pointCin the figure above. If workers ... (Read 85 times)

piesebel

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Question 1

Figure 17-2










Refer to Figure 17-2.  Suppose the economy is at point A in the figure above. Which of the following is true?


◦ The expected rate of inflation is 5.5%.
◦ The current unemployment rate is equal to the natural rate of unemployment.
◦ The current unemployment rate is 3.8%.
◦ Actual inflation is 1%.
◦ The economy will move from A to B.

Question 2

Figure 17-2










Refer to Figure 17-2.  Suppose the economy is at point C in the figure above. If workers adjust their expectations of inflation, which of the following will be true?


◦ The short-run Phillips curve will shift to the right.
◦ The short-run Phillips curve will shift to the left.
◦ The economy will move from C to A.
◦ Workers and firms expect inflation to be 1%.
◦ The natural rate of unemployment is 6%.


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Marked as best answer by piesebel on Mar 16, 2019

makaylafy

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piesebel

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Reply 2 on: Mar 16, 2019
Great answer, keep it coming :)


Dominic

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Reply 3 on: Yesterday
Excellent

 

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