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Problem Set 2Due on October 3 in Class1 Suppose an economy is experiencing deflation at a constant annual rateof 5%(discrete). How long will it take for the size of this economy to shrink to60% of its current level?2 Simplify the following: (Write down necessary steps if possible)(1) lnx4y3(xy2)2(2) exp(logbb2)(3) log9273 Suppose a system is given byx =2y − 4z + 3a + 2by =2x + 2z − 2az =x + y − bSolve for x, y, z. Suppose a and b change by 2 and 3 respectively and simul-taneously, calculate the changes in x, y,
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