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Explain why a decrease in aggregate demand causes a movement along the short-run Phillips curve. 2. Why is there no long-run trade-off between unemployment and
Explain why a decrease in aggregate demand causes a movement along the short-run Phillips curve. 2. Why is there no long-run trade-off between unemployment and inflation? 3. Why is disinflation so costly for an economy? Are there ways to reduce these costs? 4. Why won't anyone lend money at a negative nominal rate of interest? How can this pose problems for monetary policy
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