Question: If, in a surprise victory, a new administration is elected to office that the public believes will pursue inflationary policy, predict what might happen to

If, in a surprise victory, a new administration is elected to office that the public believes will pursue inflationary policy, predict what might happen to the level of output and inflation even before the new administration comes into power. Would your prediction differ depending on which of the three models—traditional, new classical, and new Keynesian—you believed in?

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