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Non-Accelerating-Inflation Rate of Unemployment (NAIRU): This theory is a variant of neoclassical natural rate of unemployment. As in original natural rate theory, NAIRU advocates believe that unemployment can't be reduced below a certain level without sparking a continuous acceleration in inflation. Contrasting the original natural rate theory, though, NAIRU doctrine doesn't strictly define this position as "full employment." Policy prescriptions of the natural rate and NAIRU theories are practically identical (namely, don't try to reduce unemployment through demand-side measures, however as an alternative attack unions and minimum wages to allow labour markets to function more ‘efficiently').
what is oxidizing agent
how slustky equation provides neat analytical expression for substitution and income effect?
What actions could a government take in order to keep the price above market equilibrium? There are four basic possibilities here; 1) Minimum price; 2) A tax on the good
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what is the theory of second best?prove the theorm with the help of diagram?
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