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the question is : For each of the following scenarios, illustrate the effects of the development on both the short-run and long-run Phillips curves (SRPC

the question is :

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For each of the following scenarios, illustrate the effects of the development on both the short-run and long-run Phillips curves (SRPC and LRPC, respectively). There is a fall in the natural rate of unemployment. ?) LRPC SRPC LRPC Inflation Rate SRPC Unemployment Rate There is an advance in technology that makes production more efficient. (? LRPC O SRPC Movement along SRPC Inflation Rate O LRPC SRPC Unemployment RateThere is a rise in government spending. ? LRPC SRPC Movement along SRPC Inflation Rate O LRPC SRPC Unemployment Rate There is a decline in expected inflation. (? LRPC SRPC LRPC Inflation Rate SRPC Unemployment Rate

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