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Assume the current state of the economy reveals the following statistics: inflation = 4%, unemployment = 4%. Some time passes. Which of the following pair
Assume the current state of the economy reveals the following statistics: inflation = 4%, unemployment = 4%. Some time passes. Which of the following pair of statistics would be consistent with the observations of the short run Phillip's curve? inflation = 6%, unemployment = 5% inflation = 5%, unemployment = 3% inflation = 2%, unemployment = 3% inflation = 4%, unemployment = 6% inflation = 11%, unemployment = 8%
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