Some economists have suggested that structural changes in the construction industry and the automobile industry in the
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Some economists have suggested that structural changes in the construction industry and the automobile industry in the mid- to late 2000s may have resulted in a new higher natural rate of unemployment.
How would an increase in the natural rate of unemployment affect the short-run Phillips curve? Consider both the unemployment rate version of the Phillips curve and the output gap version of the Phillips curve.
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An increase in the natural rate of unemployment would have implications for both versions of the Phillips curve the unemployment rate version and the ...View the full answer
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Related Book For 
Money Banking And The Financial System International Edition
ISBN: 978-1292000183
2nd Edition
Authors: R. Glenn Hubbard ,Anthony P Obrien
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