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The nature and logic of the conditions for macro- and microeconomic equilibrium. Explain the nature and logic of real and monetary shocks and their role
- The nature and logic of the conditions for macro- and microeconomic equilibrium.
- Explain the nature and logic of real and monetary shocks and their role in causing micro- and macroeconomic imbalances. (15/100)
- NB: you do not need to go into the detail of the derivation of these conditions; just explain their underlying logic.
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