Suppose that the nominal wage falls by x percent and a
Suppose that the nominal wage falls by x percent, and a certain change in the price level maintains the same real wage as before. In the SAS diagram these events cause.
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suppose that the nominal wage falls by x percent and a certain change in the price level maintains the same real wage
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suppose that a sudden decrease in aggregate demand moves the economy from its long-run equilibriuma illustrate this
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