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a) For a labour market with sticky wages there will be unemployment in slumps and labour shortages in booms. i. Give a brief definition of
a) For a labour market with "sticky wages" there will be unemployment in slumps and labour shortages in booms. i. Give a brief definition of sticky wages (2 marks) ii. Give two examples of sticky wages (2 marks) iii. Use a fully labelled diagram to illustrate and explain the statement above. (14 marks) b) List two motives for people to hold money
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Principles of Economics
Authors: Robert Frank, Ben Bernanke
5th edition
73511404, 978-0073511405
