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Question 4b - Monetary Policy a) Clearly state which monetary policy (i.e. expansionary or contractionary) is being implemented in the diagram below. b) Explain what

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Question 4b - Monetary Policy a) Clearly state which monetary policy (i.e. expansionary or contractionary) is being implemented in the diagram below. b) Explain what the RBA needs to do to adjust the cash rate, and explain what impact does this have on the economy. LRAS1 Price level SRAS1 A PL1 PL2 B AD1 AD2 YFE Y1 RGDP

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