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8 1 Once you have identified the output gap in the IS-MP graph in the Fed model, how would you connect to the Phillips curve?
8 1 Once you have identified the output gap in the IS-MP graph in the Fed model, how would you connect to the Phillips curve? Trace the output gap from the \S-MPmodel down to the same output gap in the Phillips curve. O Trace the unemployment rate from the IS-MPmodel down to the same unemployment gap in the Phillips curve. O Trace the real interest rate from the IS-MPmodel down to the same real interest rate in the Phillips curve. O Trace the inflation rate from the IS-MPmodel down to the same inflation rate in the Phillips curve
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