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(Active Versus Passive Policy) Discuss briefly the role each of the following plays in the debate between the active and passive approaches: The...

14. (Active Versus Passive Policy) Discuss briefly the role each of the following plays in the debate between the active and passive approaches:
a. The speed of adjustment of the nominal wage
b. The speed of adjustment of expectations about inflation
c. The existence of lags in policy creation and implementation
d. Variability in the natural rate of unemployment over time
Thank you.

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