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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
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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The Economics Of The Environment
Authors: Peter Berck, Gloria Helfand
1st Edition
978-0321321664, 0321321669
