MacroeconomicsAddison-Wesley Publishing Company, 1994 - 598 ˹éÒ |
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... wage rate is equal to the money wage rate of $ 5.50 an hour divided by the price of soda , 50 ¢ a bottle . LD a с d 135 140 145 150 155 160 Labor ( billions of hours per year ) Real wage rate ( 1987 dollars per hour ) 13 11 97 5 5 ...
... wage rate is equal to the money wage rate of $ 5.50 an hour divided by the price of soda , 50 ¢ a bottle . LD a с d 135 140 145 150 155 160 Labor ( billions of hours per year ) Real wage rate ( 1987 dollars per hour ) 13 11 97 5 5 ...
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Michael Parkin. CHAPTER 13 PRODUCTIVITY , WAGES , AND UNEMPLOYMENT CHAPTER 13 PRODUCTIVITY , WAGES , AND UNEMPLOYMENT CHAPTER 13. The Flexible Wage Theory Most people's wages - money wages - are deter- mined by wage contracts that run for ...
Michael Parkin. CHAPTER 13 PRODUCTIVITY , WAGES , AND UNEMPLOYMENT CHAPTER 13 PRODUCTIVITY , WAGES , AND UNEMPLOYMENT CHAPTER 13. The Flexible Wage Theory Most people's wages - money wages - are deter- mined by wage contracts that run for ...
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... wage rate have increased . Aggregate Supply with Flexible Wages The flexible wage theory of the labor market has a remarkable implication for the aggregate supply of goods and services - of real GDP . The quantity of real GDP supplied ...
... wage rate have increased . Aggregate Supply with Flexible Wages The flexible wage theory of the labor market has a remarkable implication for the aggregate supply of goods and services - of real GDP . The quantity of real GDP supplied ...
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$1 trillion aggre aggregate demand curve aggregate expenditure aggregate planned expenditure aggregate supply curve amount autonomous expenditure banks billion hours business cycle capital CHAPTER consume consumption expenditure curve for real decrease deficit deposits dollars economists equal equilibrium expenditure example exports factors factors of production fall Federal Reserve Figure firms fiscal policy fluctuations forecast GDP deflator government purchases graph growth higher households labor curve labor force labor market long-run aggregate supply macroeconomic ment million tapes monetary policy money multiplier money supply money wage rate multiplier natural rate OPEC open market operation opportunity cost output Phillips curve price level production possibility frontier quantity demanded quantity of labor quantity of money quantity of real quantity supplied rational expectations Real GDP trillions real wage rate recession relationship rises short-run aggregate supply slope tapes a week taxes tion trillions of 1987 U.S. economy unem unemployment rate