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For each of the following shocks, assume that the economy starts in long-run equilibrium, and expected inflation stays constant. Specify the type of shock and
For each of the following shocks, assume that the economy starts in long-run equilibrium, and expected inflation stays constant. Specify the type of shock and which curve(s) in the IS-MP-PC model shift (in words, no need to draw). DetermineA judge unexpectedly agrees with labor unions: all transportation workers get a 10% wage increas
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