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Question 1. a) Suppose that the government reduces spending on highway construction by $12 billion. Which way does the aggregate-demand curve shift? Explain why the

Question 1.

a) Suppose that the government reduces spending on highway construction by $12 billion. Which way does the aggregate-demand curve shift? Explain why the shift might be larger than $12 billion. Explain why the shift might be smaller than $12 billion. Please explain in one hundred and fifty words. Thank you.

b) What is unemployment? Discuss four main types of unemployment. Please explain in 150 words. Thank you

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