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1. Assume the UK is in recession. (a) Now assume the eurozone, a major trading partner of the UK, enters a recession as well. Show

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1. Assume the UK is in recession. (a) Now assume the eurozone, a major trading partner of the UK, enters a recession as well. Show the effect of this change (i) on real output in the UK on a AS-AD graph, (ii) on unemployment in the UK on a Phillips Curve

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