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Is South Korea having an inflationary or recessionary gap? Build in some theory- for example, using the AS/AD model we know during recessions, GDP falls,

Is South Korea having an inflationary or recessionary gap?

Build in some theory- for example, using the AS/AD model we know during recessions, GDP falls, unemployment rises, inflation falls

Reasons for business cycle- what kind of shock might have led to it?

Is unemployment over Natural rate or under based on business cycle analysis?

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