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Question 2. Consider the two-period elastic-labor-supply macroeconomic model with a represen- tative household, a representative firm, and a government. We are now introducing money into

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Question 2. Consider the two-period elastic-labor-supply macroeconomic model with a represen- tative household, a representative firm, and a government. We are now introducing money into this model with no credit constraint. The central bank supply money M* exogenously. You are given one of the household's optimal decision condition as the following, R M HIzUc(C,g) = V%(F),

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