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EXEE 2104 macro2

EXEE 2104 macro2

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Published by: dolphinbu on Feb 15, 2009
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06/16/2009

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Group 2E:FATIMAH BINTI ALIEEE 070049LIM WEI ZING EEE 070084
1
EXEE 2104Macroeconomics llB
 Tutorial 5: Output, Inflation, and Unemployment:Alternative Views
 
Question 1
2
Milton Friedman believes that there will beonly a temporary trade-off betweeninflation and unemployment. Explain why.
 
 The Short Run Phillips Curve
 
 The PhillipsCurve shows arelationshipbetweenunemploymentrate andinflation rate.
The short runPhillips Curvehas a negativeslope.
The negativeslope show thattheunemploymentrate and theinflation rateare inverselyrelated.( there is atrade off between thetwo)
3
InflationRateUnemploymeRatePC6224AB

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