Question
Assume that the economy is initially in medium-run equilibrium and the central bank maintains a price target. Now suppose there is a (permanent) decrease in
Assume that the economy is initially in medium-run equilibrium and the central bank maintains a price target. Now suppose there is a (permanent) decrease in the price of oil.
What happens to the unemployment rate in the short run and in the medium run respectively?
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Agricultural Economics
Authors: Evan Drummond, John Goodwin
3rd edition
136071929, 978-0136071921
