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1. (10 points) Suppose that researchers announce a new vaccine for Covid19 which is 100% effective. This vaccine will be availble in a few years.

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1. (10 points) Suppose that researchers announce a new vaccine for Covid19 which is 100% effective. This vaccine will be availble in a few years. This can be modelled as 2 unchanged, 2' increases. Use the real intertemporal model (which includes the current labour supply, N S , and demand curves, N D , and the output supply, Y\

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