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Briefly explain or describe each of the following concepts: a) AD curve b) (Short-run) AS curve c) Potential output d) Natural rate of unemployment e)
Briefly explain or describe each of the following concepts: a) AD curve b) (Short-run) AS curve c) Potential output d) Natural rate of unemployment e) Structural, frictional and cyclical unemployment f) Stagflation g) Recession h) Deflation i) Stabilisation policy j) Real wages k) Real interest rate
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