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) The relationship described by the Philips curve is important for: O an understanding of the impact of monetary policy on equilibrium output. an understanding

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) The relationship described by the Philips curve is important for: O an understanding of the impact of monetary policy on equilibrium output. an understanding of the government's budget balance and the public debt ratio. O the economy's ability to adjust itself and eliminate persistent output gaps. O an evaluation of the relationship between monetary policy and fiscal policy

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