Consider the AD/AS Model Below with a Constant Rate of Inflation.No

question 48

Multiple Choice

Consider the AD/AS model below with a constant rate of inflation.No exogenous AD or AS shocks are occurring. FIGURE 29-1
-Refer to Figure 29-1.Which of the following statements about this AD/AS diagram is true?

• A)expected inflation exceeds actual inflation
• B)actual inflation exceeds expected inflation
• C)actual inflation equals expected inflation
• D)actual inflation equals output gap inflation
• E)expected inflation equals output gap inflation

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