5. The short -run aggregate supply curve is upward sloping because nominal wages are sticky in the...

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5. The short -run aggregate supply curve is upward sloping because nominal wages are sticky in the short run: a higher aggregate price level leads to higher profit per unit of output and increased aggregate output in the short run.

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Essentials Of Economics

ISBN: 9781429218290

2nd Edition

Authors: Paul Krugman, Robin Wells, Kathryn Graddy

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Question Posted: Oct 03, 2024 06:02 AM

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5. The short -run aggregate supply curve is upward sloping because nominal wages are sticky in the...

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Essentials Of Economics

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