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Using the AD/AS and the Phillips curve models,demonstrate graphically and explain in words the changes to output,unemployment and inflation caused by an expansionary fiscal policy.Show the short-run and long-run adjustments.Assume that the economy is initially in both short-run and long-run equilibrium,and that expected inflation is 2%.
Structural Defects
Faults or imperfections in the construction or composition of something, which may affect its strength, function, or aesthetics.
Oxytocin
A hormone and neurotransmitter involved in childbirth and lactation, also associated with empathy, trust, sexual activity, and relationship-building.
Pair-Bonding
The establishment of a sustained social and emotional relationship between two individuals, often involving mutual support and attachment.
Mammary Glands
Specialized organs in mammals that produce milk to nourish newborns.
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