What is being assumed about the timing of wage setting and, Business Economics

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What is being assumed about the timing of wage setting and

What is being assumed about the timing of wage setting and price setting that enables us to say that the economy is always on the PS curve but only on the WS curve in a medium-run equilibrium? What timing assumptions would deliver the result that the economy is always on the WS curve but only on the PS curve in a medium-run equilibrium?

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Business Economics: What is being assumed about the timing of wage setting and

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