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In response to a rapid deceleration in the growth rate of nominal GDP in the early 1980s,

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In response to a rapid deceleration in the growth rate of nominal GDP in the early 1980s,

In response to a rapid deceleration in the growth rate of nominal GDP in the early 1980s,
A) inflation declined slowly, thus giving empirical support to the proponents of the adaptive expectations approach.
B) inflation declined slower than the deceleration in nominal GDP and real output actually declined.
C) inflation declined slower than the deceleration in nominal GDP and the output ratio actually declined.
D) All of the above are correct.

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Macroeconomics

Edition: 12^th

Author: Gordon

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6 years ago

Correct

jmendoza

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Yesterday

I appreciate what you did here, answered it right Smiling Face with Open Mouth

jcarter

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2 hours ago

Smart ... Thanks!

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