Chapter 32. Chapter 32 (Chapter 13 Macro)
Step 1
Work It Out
Chapter 32 (Chapter 13 Macro)
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You must read each slide, and complete any questions on the slide, in sequence.
Question
From the equation of exchange, MV = PY, we know that spending growth 
equals Inflation (π) + Real growth. Recall from the chapter that in the long run, (1) the inflation is found where the AD curve intersects the LRAS curve (reading off the vertical axis), and (2) the expected inflation rate is found where the short-run aggregate supply curve intersects the LRAS curve.
With these things in mind, assume that the Solow growth rate is 3% and answer the following questions.
Question
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Step 2
Question
From the equation of exchange, MV = PY, we know that spending growth equals Inflation (π) + Real growth. Recall from the chapter that in the long run, (1) the inflation is found where the AD curve intersects the LRAS curve (reading off the vertical axis), and (2) the expected inflation rate is found where the short-run aggregate supply curve intersects the LRAS curve.
With these things in mind, assume that the Solow growth rate is 3% and answer the following questions.
Question
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1:12
Step 3
Question
From the equation of exchange, MV = PY, we know that spending growth equals Inflation (π) + Real growth. Recall from the chapter that in the long run, (1) the inflation is found where the AD curve intersects the LRAS curve (reading off the vertical axis), and (2) the expected inflation rate is found where the short-run aggregate supply curve intersects the LRAS curve.
With these things in mind, assume that the Solow growth rate is 3% and answer the following questions.
Question
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