Suppose that in any given period an unemployed person will find a job with probability 0.7 and will therefore remain unemployed with a probability of 0.3. Additionally, persons who find themselves employed in any given period may lose their job with a probability of 0.1 (and will have a 0.9 probability of remaining employed). Write out the Markov system of difference equations for this economy. Compute the stationary distributions.

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