According to the Phillips curve model, if the actual inflation rate exceeds the expected inflation rate, which of the following statements is true?<\/p>
A.There is no frictional unemployment.<\/p>
B. There is no structural unemployment.<\/p>
C. The equilibrium real output is greater than the potential real output.<\/p>
D.The economy is operating in its long-run equilibrium.<\/p>
E.There is a recessionary gap in the economy's output.<\/p>
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