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An estimate of the short-run Phillips curve for a hypothetical economy is u = 12 - 1.5ð, where u is the unemployment rate and ð is the inflation rate.
a. If the natural rate of unemployment is 8 percent, what is the expected inflation rate that is consistent with this short-run Phillips curve?
b. Suppose the government passes legislation that decreases the natural rate of unemployment by two percentage points. What is the new long-term inflation rate?
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An intense, irrational hostility toward or fear of homosexuals.
Homosexuals
Refers to individuals who are romantically or sexually attracted to people of the same gender.
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Showing or feeling opposition or dislike; unfriendly or antagonistic.
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A medical condition characterized by the inability to achieve or maintain an erection sufficient for satisfactory sexual performance.
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