Question: 13. Active Versus Passive Policy Discuss the role that each of the following plays in the debate between the active and passive approaches: a. The

13. Active Versus Passive Policy Discuss the role that 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

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