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    Economics Principles and Policy Study Set 2
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    Exam 22: The Goals of Macroeconomic Policy
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    Define the Following Terms Carefully
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Define the Following Terms Carefully

Question 7

Question 7

Essay

Define the following terms carefully:
(a) Full employment
(b) Purchasing power of money
(c) Real wage rate
(d) Relative price

Correct Answer:

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(a) Full employment is a situation in wh...

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