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QUESTION
Use the closed-economy IS-LM-FE model to explain the eects of each of the following on the values of the real wage, employment, output, the real
Use the closed-economy IS-LM-FE model to explain the effects of each of the following on the values of the real wage, employment, output, the real interest rate, consumption, investment and the price level in the short-run and in general equilibrium:
A permanent decrease in total factor productivity today and in the future.
and An increase in the volatility of the stock market.
