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Figure: Short-Run Phillips Curve
-(Figure: Short-Run Phillips Curve) Look at the figure Short-Run Phillips Curve. The natural rate of unemployment is:

Question

Use the following to answer questions :
Figure: Short-Run Phillips Curve 
-(Figure: Short-Run Phillips Curve) Look at the figure Short-Run Phillips Curve. The natural rate of unemployment is:

Quizplus · Accepted Answer

The point where the short-run Phillips curve intersects the long-run Phillips curve represents the natural rate of unemployment. In this figure, that point is at an unemployment rate of 5%.

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