=+b. Now suppose that over time expected inflation changes in the same direction that actual inflation changes.

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=+b. Now suppose that over time expected inflation changes in the same direction that actual inflation changes. What happens to the position of the short-run Phillips curve?

After the recession is over, does the economy face a better or worse set of inflation–

unemployment combinations?

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Brief Principles Of Macroeconomics

ISBN: 9780324590371

5th Edition

Authors: N. Gregory Mankiw

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Question Posted: Sep 28, 2024 04:00 AM

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=+b. Now suppose that over time expected inflation changes in the same direction that actual inflation changes.

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Brief Principles Of Macroeconomics

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