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Briefly explain how and why each of the following changes would affect the natural ra' unemployment in an economy: a} A decrease in unemployment benefits;

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Briefly explain how and why each of the following changes would affect the natural ra' unemployment in an economy: a} A decrease in unemployment benefits; b} An increase in the minimum wage; c} Assume a technology advance leads to lower production costs within the econ: show the effect this will have on national income, unemployment. inflation. interest rates with the help of a relevant diagram. assuming completely exible 1

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