Question
When the equilibrium real GDP is below potential GDP, how does the unemployment rate compare with the natural rate? What is the result of this
When the equilibrium real GDP is below potential GDP, how does the unemployment rate compare with the natural rate? What is the result of this state of affairs that restores the long-run equilibrium?
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Macroeconomics
Authors: Robert J Gordon
12th edition
138014914, 978-0138014919
