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Extra Credit Essay (3 pts) Discuss how permanent and transitory negative productivity shocks a'ect total hours worked and consumption. Your answer should include a discussion

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Extra Credit Essay (3 pts) Discuss how permanent and transitory negative productivity shocks a'ect total hours worked and consumption. Your answer should include a discussion of income and substitution effects for both. To facilitate your discussion, on two separate graphs, graph what would happen to hours and consumption over time

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