Problems with aggregate demand or with aggregate supply

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In April 2010, Christina Romer, who was then serving as chair of the President's Council of Economic Advisers, argued: "The overwhelming weight of the evidence is that the current very high-and very disturbing-levels of overall and long-term unemployment are not a separate, structural problem, but largely a cyclical one."

Was Romer arguing that the high unemployment in 2010 was largely due to problems with aggregate demand or to problems with aggregate supply? Briefly explain.

Reference no: EM131302740

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