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Fill in the Blank Question Fill in the blank question. In the short run, the price level increases. Firms hire workers and production. The quantity
Fill in the Blank Question Fill in the blank question. In the short run, the price level increases. Firms hire workers and production. The quantity of real GDP increases. As the demand for labor increases and labor contracts expire, workers will demand wages. In the run, output falls
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Microeconomics
Authors: Douglas Bernheim, Michael Whinston
2nd edition
73375853, 978-0073375854
