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1. Define the three types of unemployment. 2. What are the GDP/Aggregate expenditures model components? List...

1. Define the three types of unemployment.

2. What are the GDP/Aggregate expenditures model components? List the components and what each one represents.

3. Define average propensity to save; average propensity to spend; marginal propensity to save; marginal propensity to save. What is the GDP multiplier?

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