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Go to the Web site of the Bureau of Labor Statistics (https://www.bls.gov). For each of the past five years, find the inflation rate as measured by the consumer price index for all items (sometimes called headline inflation) and as measured by the CPI excluding food and energy (sometimes called core inflation). Compare these two measures of inflation. Why might they be different? What might the difference tell you about shifts in the aggregate supply curve and in the short-run Phillips curve?

Reference no: EM131281230

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