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In Figure 9-11, which plots the inflation rate against the output ratio, it is possible fo

In Figure 9-11, which plots the inflation rate against the output ratio, it is possible fo

In Figure 9-11, which plots the inflation rate against the output ratio, it is possible for the economy to move in any direction. Can you explain why the economy would move in each possible direction 1. North? 2. Northeast? 3. East? 4. Southeast? 5. South? 6. Southwest? 7. West? 8. Northwest?
 
Abhinav 29-Nov-2019

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