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Question 2 Inflation erodes real incomes in the long run. True or False. (3 marks) Question 3 Explain why the long run aggregate supply (LRAS)

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Question 2 "Inflation erodes real incomes in the long run." True or False. (3 marks) Question 3 Explain why the long run aggregate supply (LRAS) curve is vertical. (4 marks) 2/3

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