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PART B: DEFINITIONS (10 MARKS) Briefly define TEN terms only of the following twelves terms. In cases of more than ten terms answered, only the

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PART B: DEFINITIONS (10 MARKS) Briefly define TEN terms only of the following twelves terms. In cases of more than ten terms answered, only the best ten score will be counted. Each term is worth I mark. a) Under-employed worker. b) Growth Accounting. c) Short-run macroeconomic equilibrium. d) Induced-expenditure. e) Budget balance. f) Modern consumption theories. g) Inventory investment. h) Liquidity. i) Taylor rule. j) Foreign exchange rate. k) Interest rate parity. 1) Real exchange rate

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