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Complete each of the following statements with the appropriate word. a. Inflation or deflation is characterized by an overall rise in prices. b. Inflation or
Complete each of the following statements with the appropriate word.
a. Inflation or deflation is characterized by an overall rise in prices.
b. Inflation or deflation is characterized by an overall drop in prices.
c. Inflation or deflation has become the norm for economies since WWII.
d. Inflation or deflation leads to a liquidity trap when interest rates approach zero.
e. The short-run Philips shows a tradeoff between unemployment and Inflation or deflation
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