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Problem 6 Inflation Answer the following questions: a) What are the main costs of inflation for the economy? b) What is the Phillips curve? What

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Problem 6 Inflation Answer the following questions: a) What are the main costs of inflation for the economy? b) What is the Phillips curve? What is the role played by the slope of the Phillips curve? c) What are some of the main determinants of inflation? d) How can monetary policy reduce inflation

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