In the short run, prices may rise faster than costs. This chapter discusses why this might happen.
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In the short run, prices may rise faster than costs. This chapter discusses why this might happen. Suppose that labor and management agree to adjust wages continuously for any changes in the price level. How would such adjustments affect the slope of the aggregate supply curve?
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Because some resource prices are fixed in the short run increase...View the full answer
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Related Book For 
Economics A Contemporary Introduction
ISBN: 9781305505469
11th Edition
Authors: William A. McEachern
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