Those who favor an active approach to policy and those who favor a passive approach disagree not only on how quickly the government can act but also on how stable the economy basically is.
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Q134: One of the reasons fiscal and monetary
Q135: Those who prefer a passive approach to
Q136: Inflation target refers to the commitment of
Q137: Advocates of an active approach think that
Q138: An economy that self-corrects an expansionary gap
Q140: The early Phillips curve showed a trade-off
Q141: The long-run Phillips curve suggests that changing
Q142: Before discovering that the short-run Phillips curve
Q143: Contrary to what the Phillips curve would
Q144: An increase in price expectations shifts the
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