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the right,Men Diesel Jeans, as shown in the figure. The economy ends up at point C,discount versace shoes, with higher in-
flation than at point A but with the same level of unemployment.
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T H E N AT U R A L E X P E R I M E N T
F O R T H E N AT U R A L - R AT E H Y P O T H E S I S
Friedman and Phelps had made a bold prediction in 1968: If policymakers try to