a) During the wage bargaining period, the labour Union for Ambro-group of companies is offered and accepts salary increment assuming that the annual inflation rate will be 30%. However, during the year, the inflation rate turns out to be a 43% . Using appropriate graphs, explain how this turn of events will affect the equilibrium output, wages and employment in the real wage- employment plane, the nominal wage -employment plane and the output - employment plane. Explain how the equilibrium is arrived at in each panel. b) Discuss the major costs of inflation. What are some of the policy measures that you would institute to stem inflation