European Community Bank (ECB) governing council member Erkki Liikanen was quoted in a 2004 Wall Street Journal
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European Community Bank (ECB) governing council member Erkki Liikanen was quoted in a 2004 Wall Street Journal article as saying, "The stronger we get the productivity growth... the more room we will get in monetary policy (to keep interest rates low)."
a. Demonstrate his argument using the AS/AD model.
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