hw5f11 - Print name Sign name TA and Recitation time F11...

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Print name___________________ Sign name _____________________ TA and Recitation time ___________________ Econ 520 F11 Homework 5 10/18, 10/20, due 10/21 1 (25 HW points) a) The relationship between inflation and unemployment is known as the ________________ Curve. b) According to the Natural Unemployment Rate Hypothesis, in the long run when inflation is fully anticipated, this curve is (circle one) (vertical) (horizontal) (upward sloping) (downward sloping) when unemployment is on the horizontal axis and inflation is on the vertical axis. c) In the short run, when inflationary expectations are determined by recent prior inflation as with Adaptive Learning, this curve is expected to be (circle one) (vertical) (horizontal) (upward sloping) (downward sloping) d) Assuming Adaptive Learning , any attempt to hold unemployment permanently below the “Natural Rate” will result in (circle one) stable prices a steady but positive inflation a steady deflation an inflation that gradually increases without bound
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hw5f11 - Print name Sign name TA and Recitation time F11...

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