Critics of inflation targeting will argue that central banks need flexibility.
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Q17: Most macroeconomists believe that both fiscal and
Q18: The Phillips curve relationship can also be
Q19: Rational expectations theory suggests that government or
Q20: Either supply shocks or adjusting inflation expectations
Q21: Assuming wages are indexed to inflation, if
Q23: If the Phillips curve was nearly horizontal,
Q24: Critics of targeting a zero inflation rate
Q25: When the economy is already operating at
Q26: A.H. Phillips developed the Phillips curve concept
Q27: If policy makers expand aggregate demand, they
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