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PART A Briefly analyze the various policy measures that a government might have to undertake to deal with and finance a growing fiscal deficit. PART

PART A

Briefly analyze the various policy measures that a government might have to undertake to deal with and finance a growing fiscal deficit.

PART B

(i) Briefly describe with the aid of a diagram what is meant by the Phillips curve.

(ii) Briefly discuss two explanations of why the Phillips curve relationship may hold in the short run.

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