Question
In a Keynesian model with nominal wage rigidity, an unexpected monetary expansion ____ the level of prices while the labour contract is still in effect.
In a Keynesian model with nominal wage rigidity, an unexpected monetary expansion ____ the level of prices while the labour contract is still in effect. The price will ____ after the contract is renegotiated.
a.does not affect; rise
b.raises; not change
c.raises; fall
d.raises; rise
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The Industries Of The Future
Authors: Alec Ross
1st Edition
1476753660, 9781476753669
