Economics (MindTap Course List)
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Economics (MindTap Course List)
If wage rates are not flexible, can the economy be self-regulating? Explain your answer.
Explain the wage rate to operate economy in self-regulation.
For self-regulation, the wage rate would be flexible. If the wage rate is not flexible, then the short-run aggregate supply (SRAS) curve would not shift in response to an inflationary gap or recessionary gap...
Chapter 9 Solutions
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