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Unformatted text preview: c. Case 3: Full employment 2. Long run: AD = SRAS = LRAS 3. From short run to long run a. Self-Correcting Mechanism (SCM): A labor market story i. Activist (i.e., Keynesian) ii. Non-activist (i.e., Monetarist) C. Aggregate Supply and Demand: Examples 1. Twelve questions to answer in each scenario D. Inflation: Introductory comments 1. Definitions 2. Friedmans dictum 3. Activist response III: NEXT TIME A. Continue Chapter 27: Money and Inflation...
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This note was uploaded on 07/31/2008 for the course ECON 2035 taught by Professor Stahl during the Spring '08 term at LSU.
- Spring '08