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Author Question: Refer to Figure 17-2. Suppose the economy is at pointBin the figure above. Which of the ... (Read 116 times)

SAVANNAHHOOPER23

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on: Mar 16, 2019

Question 1

Use the following information to draw a graph showing the short-run and long-run Phillips curves, and be sure your graph shows the point where the short-run and long-run Phillips curves intersect.



Natural rate of unemployment = 4 percent

Current rate of unemployment = 5 percent

Expected inflation rate = 3 percent

Current inflation rate = 2 percent



Question 2

Figure 17-2










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


◦ The expected rate of inflation is 3%.
◦ The natural rate of unemployment is 3.8%.
◦ The current unemployment rate is 5%.
◦ The economy is producing at potential GDP.
◦ Expected inflation and actual inflation are the same.
Macroeconomics ¦ Hubbard, O'Brien ¦ 6th Edition
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Marked as best answer by SAVANNAHHOOPER23 on Mar 16, 2019

yahahah24021

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Reply #1 on: Mar 16, 2019
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SAVANNAHHOOPER23

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Reply #2 on: Mar 16, 2019
Thank you!


yahahah24021

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Reply #3 on: Mar 16, 2019
Always glad to help...


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