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The economy of Moneyland has an actual unemployment rate that is less than the natural unemployment rate. (a) Draw a correctly labeled graph of the

The economy of Moneyland has an actual unemployment rate that is less than the natural unemployment rate.

(a) Draw a correctly labeled graph of the long-run aggregate supply, short-run aggregate supply, and aggregate demand curves, and show each of the following.

(i) Current price level, labeledPL

(ii) Current real output, labeledY

(iii) Full-employment output, labeledY

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