What is inflation in 2023

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The data in Figure suggest an unemployment coefficient of approximately -1.0 in the Phillips curve; that is, the Phillips curve is p

Assume the natural rate, U^*, is 5 percent. Actual unemployment is 5 percent in 2020, 7 percent in 2021, 6 percent in 2022, and 5 percent in 2023. Inflation is 5 percent in 2020. What is inflation in 2023? (Assume there are no supply shocks.)

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Reference no: EM131221638

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