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The Short-Run Phillips Curve Is Drawn for a Given Expected

question 8

True/False

The short-run Phillips curve is drawn for a given expected inflation rate and so it shifts as inflation expectations change.

Understand the concept of logrolling and its impact on government decisions.
Recognize the implications of the principal-agent problem in politics.
Comprehend how regulatory capture occurs and its effects.
Understand the role and effects of earmarks in government spending.

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