1.Suppose the natural rate of unemployment is 6% and that the actual unemployment rate is equal to...
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Question:
1.Suppose the natural rate of unemployment is 6% and that the actual unemployment rate is equal to 8% for four years. Given this information, we know that:
Select one:
a.there was no change in the inflation rate during these four years.
b.the point-years of excess unemployment are 8.
c.the point-years of excess unemployment are 2.
d.the inflation rate was increasing during these four years.
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