=+ a. Assuming any resulting infl ation to be unexpected, explain any changes in GDP, unemployment, and

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a. Assuming any resulting infl ation to be unexpected, explain any changes in GDP, unemployment, and infl ation that are caused by the monetary expansion. Explain your conclusions using three diagrams: one for the IS–LM model, one for the AD–AS model, and one for the Phillips curve.

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Macroeconomics

ISBN: 9781429240024

8th Edition

Authors: N Gregory Mankiw

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