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Old 04-13-2008, 02:41 AM
Lorenzo Ferlinghetti Lorenzo Ferlinghetti is offline
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A. Make a simple Supply & Demand model with Supply as the curve with positive correlation and Demand as the curve with negative correlation. Mark the Y-axis as Price Level and the X-axis as real gdp or quantity or whatever and see for yourself.

The equi level for price level is now higher, and b/c gdp is shifted to the right and voilą, lower unemployment : ) but higher prices : (
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