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According to the Taylor rule, the Fed should set the target for the federal funds rate equal to the sum of the equilibrium real federal

According to the Taylor rule, the Fed should set the target for the federal funds rate equal to the sum of the equilibrium real federal funds rate, the current inflation rate, one-half times the ________, and one-half times the ________.
interest rate gap; inflation gap
interest rate gap; output gap
inflation gap; output gap
unemployment gap; government-spending gap

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