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Consider a movement along the SRAS curve that results in high prices and higher real GDP. This movement is equivalent to moving along a short-run
Consider a movement along the SRAS curve that results in high prices and higher real GDP. This movement is equivalent to moving along a short-run Phillips curve in which there is,
a. an increase in inflation and employment
.b. a fall in inflation and an increase in unemployment.
c. a fall in inflation and unemployment.
d. an increase in unemployment and a rise in the price index.
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