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Suppose the Phillips curve is given by t = e t + 0.1 2u t where e t = t1 (that is, adaptive expectations). Assume

Suppose the Phillips curve is given by _t = ^e_t + 0.1 2u_t where ^e_t = _t1 (that is, adaptive expectations).

Assume that initially = 0.

answer:

a. What is the natural rate of unemployment u_n?

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