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Based on Blanchard's WS-PS model. a) Specify and explain the wage setting relationship (WS) in the model. b) Specify and explain the pricing relationship (PS)
Based on Blanchard's WS-PS model. a) Specify and explain the wage setting relationship (WS) in the model. b) Specify and explain the pricing relationship (PS) in the model.c) Illustrate the curves in a figure and explain what determines equilibrium unemployment.
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Foundations of Macroeconomics
Authors: Robin Bade, Michael Parkin
8th edition
134492005, 978-0134492001
