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Compare the newlong-runequilibrium with the old equilibrium and create a table like bellow, fill in the table by writing higher, lower, or unchanged in each
- Compare the newlong-runequilibrium with the old equilibrium and create a table like bellow, fill in the table by writing higher, lower, or unchanged in each cell and explain why (e.g. if you think the Unemployment rate is higher in the new equilibrium, write 'higher' in the first cell) (15 marks)
Unemployment
rate
Real wage Output New
equilibrium following the policy change
| Unemployment rate | Real wage | Output | |
| New equilibrium following the policy change |
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Business Statistics For Contemporary Decision Making
Authors: Black Ken
8th Edition
978-1118494769, 1118800842, 1118494768, 9781118800843, 978-1118749647
