Answer all the following questions. a. Explain why the AE curve slopes upward while AD curve...
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Answer all the following questions. a. Explain why the AE curve slopes upward while AD curve slopes downward. Briefly explain. (3pts) b. Why isn't unemployment rate equal to zero when the economy is at full employment? Briefly explain. (3pts) c. Suppose you obtained a fixed rate mortgage during a period of relatively high inflation. During the next ten years, inflation fell. Did you gain or lose from the lower inflation rate? Briefly explain. (3pts) Answer all the following questions. a. Explain why the AE curve slopes upward while AD curve slopes downward. Briefly explain. (3pts) b. Why isn't unemployment rate equal to zero when the economy is at full employment? Briefly explain. (3pts) c. Suppose you obtained a fixed rate mortgage during a period of relatively high inflation. During the next ten years, inflation fell. Did you gain or lose from the lower inflation rate? Briefly explain. (3pts)
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Here are the answers to your questions a The AE curve slopes upward because as the price level rises the quantity of labor demanded by firms increases while the quantity of labor supplied by workers d... View the full answer
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