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Problem 1:
a) Explain the different types of unemployment that exist.
b) Critically examine how monetary policy can be used to deal with inflation.
c) Critically examine how fiscal policy can be used to deal with unemployment.
d) What are the causes of inflation?
criticism of cournot model
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Natural Rate of Unemployment: According to neoclassical economics, wage rate is determined by a process of labour-market clearing (in which employers and workers compete with each
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Question 1: a) Describe the different types of unemployment that exist. b) Critically examine how monetary policy will be used to deal with inflation. c) Critically deter
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