In the short run, the percentage increase in output tends to correspond to a smaller percentage decrease
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In the short run, the percentage increase in output tends to correspond to a smaller percentage decrease in the unemployment rate as a result of “slippages.” Explain the three slippages between changes in output and changes in the unemployment rate.
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The first slippage is between the change in output and the change in the number of jobs in the econo...View the full answer
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Related Book For
Principles of Macroeconomics
ISBN: 978-0134078809
12th edition
Authors: Karl E. Case, Ray C. Fair, Sharon E. Oster
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