Mathematics, 25.07.2019 02:30 wowwowumbsi

For example, the sticky-wage theory asserts that output prices adjust more quickly to changes in the price level than wages do, in part because of long-term wage contracts. suppose a firm signs a contract agreeing to pay its workers $15 per hour for the next year, based on an expected price level of 100.

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For example, the sticky-wage theory asserts that output prices adjust more quickly to changes in the...

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