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Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383

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BuyFindarrow_forward

Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383
Textbook Problem

Assume a current short-run trade-off between inflation and unemployment, as well as a change in technology that permits the wider dispersion of economic policy news. How would the change affect the trade-off? Explain your answer.

To determine

The effect of change in technology on the short-run tradeoff between inflation and unemployment.

Explanation

The wider dispersion of economic policy changes the attitude of the people toward a higher inflation or higher unemployment, and also it will alter the slope of the short-run Phillips curve...

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