=+ b. Suppose the central bank does not respond to changes in output but only to changes

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b. Suppose the central bank does not respond to changes in output but only to changes in infl ation, so that Y = 0. How, if at all, would this fact change your answer to part (a)?

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Macroeconomics

ISBN: 9781429240024

8th Edition

Authors: N Gregory Mankiw

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