steps to real wage rates to fallwage stickiness, Macroeconomics

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steps to real wage rates to fallwage stickiness

Steps to real wage rates to fall

Wage 'stickiness' or wage inflexibility may stop the real wage rate falling to the full-employment wage rate. Stickiness or inflexibility is caused by labour market imperfections and by workers' unwillingness to accept cuts in the nominal wage rate, which are usually essential for real wage rates to fall.

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