Essay Question You are a new economic adviser to the Spanish government. The President comes to you, complaining that th

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Essay Question
You are a new economic adviser to the Spanish government. The
President comes to you, complaining that the German chancellor has
told him that “the natural rate of unemployment in Spain is too
high, it would be advisable to attempt to reduce it”. He asks you
to explain to him what this “natural rate of unemployment is”, as
well as give him the best policies that could reduce it, both in
the long term and the short term. He says to hand him a report with
a maximum of two pages.