How does the graph look for the effect of a temporary but persistent increase in total factor productivity on current real wages. I know that the x axis is the quantity of labour (employment) and the y axis is the real wage rate but im not sure how the graph should look.
How does the graph look for the effect of a temporary but persistent increase in total factor productivity on current real wages. I know that the x axis is the quantity of labour (employment) and the y axis is the real wage rate but im not sure how the graph should look.
Chapter6: How Statisticians Measure Inflation
Section: Chapter Questions
Problem 3TY
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How does the graph look for the effect of a temporary but persistent increase in total factor productivity on current real wages. I know that the x axis is the quantity of labour (employment) and the y axis is the real wage rate but im not sure how the graph should look. Could you show me what the graph should look like?
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