Assume that natural real gdp is constant. for every 1, Ask an Expert

Economics

Assume that natural real GDP is constant. For every 1 percent rise in the rate of inflation above its expected level, firms are willing to increase real GDP by 2 percent. The output ratio is initially 100 and the inflation rate equals 2 percent.
Draw the new short-run Phillips Curve.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M920583

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