Please find the attached question. Use Calculas and Economics There is an answer available but I think its wrong 5. Suppose that Inflation and Unemployment interaction is modeled byp=a-T-BU + gndлdt =j (p = n)dudt= -k(m-p)Find time path for p if the following data is giveng= 1, j = 1, p = 1, k = 5, m = 1Find intertemporal equilibrium value of p.6. Find time path for U, and describe the long-run Phillips relation

Given: p = a − T − ßU + gπ dπ/dt = j(p − π) dU/dt = −k(m − p) g = 1, j = 1, ß = 1, k = 5, m = 1

5. Suppose that Inflation and Unemployment interaction is modeled by p=a-T-BU + gn dπ dt du dt =j (p = π) =-k(m-p) Find time path for p if the following data is given g= 1, j = 1, ß = 1, k = 5, m = 1 Find intertemporal equilibrium value of p. 6. Find time path for U, and describe the long-run Phillips relation

5. Suppose that Inflation and Unemployment interaction is modeled by p=a-T-BU + gn dπ dt du dt =j (p = π) =-k(m-p) Find time path for p if the following data is given g= 1, j = 1, ß = 1, k = 5, m = 1 Find intertemporal equilibrium value of p. 6. Find time path for U, and describe the long-run Phillips relation

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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