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If inflation were high in some country and lawmakers in that country passed a law requiring the central bank to maintain a low level of
If inflation were high in some country and lawmakers in that country passed a law requiring the central bank to maintain a low level of inflation, it is likely that
a.
the short-run Phillips curve would shift right and the cost of disinflation would rise.
b.
the short-run Phillips curve would shift right and the cost of disinflation would fall.
c.
the short-run Phillips curve would shift left and the cost of disinflation would rise.
d.
the short-run Phillips curve would shift left and the cost of disinflation would fall.
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