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(EC 2) Central banks sometimes act to reduce the rate of inflation in their economy. Many central banks have explicit inflation mandates. But, reducing inflation

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(EC 2) Central banks sometimes act to reduce the rate of inflation in their economy. Many central banks have explicit inflation mandates. But, reducing inflation often requires central banks to raise interest rates, lower output below potential, and increase unemployment. Why do national governments permit central banks to pursue these painful policies

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