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Question 2.2 Denote P1 the aggregate price level in period 1, and P2 the aggregate price level in period 2. Divide the government budget constraints

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Question 2.2 Denote P1 the aggregate price level in period 1, and P2 the aggregate price level in period 2. Divide the government budget constraints in period 1 and 2 by P1 and

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