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1. what is the state of the economy (e.g. recession and inflation, growth and inflation etc.); and 2. why (e.g. strong demand pushing AD above

1. what is the state of the economy (e.g. recession and inflation, growth and inflation etc.); and

2. why (e.g. strong demand pushing AD above potential GDP/LRAS, weaker demand pulling AD below potential GDP/LRAS etc.).

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