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Explain why would you expect inflation rate to increase if the actual unemployment rate refused to a level lower than the "full employment" unemployment rate (NAIRU)? Describe your answer in a few sentences. What state of business cycles (such as recession, trough, recovery or boom) does the current United States economy face, and why?

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Macroeconomics, Economics

Category:- Macroeconomics
Reference No.:- M9309016

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