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anymous anymous
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2 years ago
Effect of Inflation on the Short-Run Phillips Curve


Inflation rate
(percent per year)		Unemployment rate (percent)
12​5​
6​8​

Refer to the data in the table for the short-run Phillips curve. The short-run and long-run Phillips curves intersect at an inflation rate of 12 percent per year and an unemployment rate of 5 percent. The Fed announces its intention to decrease inflation from 12 percent to 6 percent per year, and it succeeds. If expectations of inflation are not altered by the Fed's announcement, the rate of unemployment will be ________ percent in the short run.

▸ less than 5

▸ 5

▸ between 5 and 8

▸ 8
Textbook 
Macroeconomics

Macroeconomics


Edition: 3rd
Authors:
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jtarinayjtarinay
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2 years ago
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anymous Author
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2 years ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
njn;l
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Yesterday
Helped a lot
Turboturner
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2 hours ago
Thanks
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