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    Business
  3. Study Set
    Macroeconomics Study Set 11
  4. Exam
    Exam 13: Technological Progress: the Short, the Medium, and the Long Run
  5. Question
    Suppose an Economy Experiences a Reduction in Productivity
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Suppose an Economy Experiences a Reduction in Productivity

Question 2

Question 2

Essay

Suppose an economy experiences a reduction in productivity.Explain both the short-run and medium-run effects of this reduction in productivity on output,employment,and the unemployment rate.

Correct Answer:

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