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question should be no longer than 450 words. 1a) What is meant by easy and tight money? (3 marks) b) Explain why it is a

question should be no longer than 450 words.

1a) What is meant by "easy" and "tight" money? (3 marks)

b) Explain why it is a fallacy to identify tight money with high interest rates and easy money with low interest rates. (7 marks

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