Question: Explain how the recognition that macroeconomic policymaking is an inexact science affects your recommended policy response to the following situations: (L04) a. Your estimate of

Explain how the recognition that macroeconomic policymaking is an inexact science affects your recommended policy response to the following situations: (L04)
a. Your estimate of the natural rate of unemployment is 5 percent, and the actual unemployment rate is 5.5 percent.
b. Your estimate of the natural rate of unemployment is 5 percent, and the actual unemployment rate is 8 percent.

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