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Refer to Figure 11a. If the economy is at point Er, what would be the appropriate economic policy? An AD-AS diagram with three positions of

Refer to Figure 11a. If the economy is at point Er, what would be the appropriate economic policy? An AD-AS diagram with three positions of the AD curve. Question 20 Answer a. Contractionary fiscal policy to bring output to the natural level. b. Contractionary monetary policy to address inflation. c. Contractionary monetary policy to address deflation. d. Expansionary fiscal policy to bring output to the natural level

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