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When the actual price level is greater than the expected price level, we know that: a) output is less than the natural level of output.
When the actual price level is greater than the expected price level, we know that:
a) output is less than the natural level of output.
b) the real exchange rate is equal to the nominal exchange rate.
c) the goods market is in equilibrium.
d) the unemployment rate is greater than the natural rate of unemployment.
e) none of the above.
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