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By given scenario answer the following questions.
1. What phase of the business cycle is the economy?
2. If inflation increased by 5% during the same period, what was the change in nominal GDP?
Define the term- Wages and income Remember that by wage we mainly mean what you receive for working one hour, whereas income is the total revenue from all sources over a longe
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Why is it important for policymakers to consider both the direct and indirect effects of public policies?
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