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Compare an economy with a vertical ERU curve with an otherwise identical economy with a downward-sloping ERU curve. Briefly explain how these economies differ. Consider

  • Compare an economy with a vertical ERU curve with an otherwise identical economy with a downward-sloping ERU curve.
  • Briefly explain how these economies differ.
  • Consider a government facing an upcoming election. Does a downward-sloping ERU curve affect the policy maker's incentive to be fiscally disciplined ahead of an election?

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