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6. Inflation 1991-1992. India experienced a surge in inflation in 1991 and 1992, as often happens after an exchange-rate crisis. Explain that inflation surge

6. Inflation 1991-1992. India experienced a surge in inflation in 1991 and 1992, as often happens after an exchange-rate crisis. Explain that inflation surge in terms of the Expectations Augmented Phillips Curve. Be sure to write out the curve itself.

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