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Question 3b Finally, consider the statement This suggests that, in our newly stagnant world, the true...

Question 3b Finally, consider the statement This suggests that, in our newly stagnant world, the true NAIRU is a lot lower: 4.5 per cent, maybe 4 per cent

              Using the static AD-AS model, discuss what might happen if the government incorrectly assumes the NAIRU is still 5 percent when it really is 4 percent. and stimulates demand to reduce unemployment.

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