Explain what is meant by the "wage-price spiral." Does it always work in one direction?
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Q20: In the long run
A) prices are sticky.
B)
Q21: Assuming an upward-sloping short-run aggregate supply curve,
Q22: As output exceeds potential output, wages and
Q23: When the economy is producing below full
Q24: The short-run aggregate supply curve is relatively
Q26: Wages and prices will decrease when unemployment
Q27: Consider an aggregate demand / aggregate supply
Q28: For most firms, wages are the smallest
Q29: In an aggregate supply and aggregate demand
Q30: Assuming an upward-sloping short-run aggregate supply curve,
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