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Suppose in a given year a firm's productivity increases by 2% and its nominal wages rise by 5%. What would you expect to happen to
Suppose in a given year a firm's productivity increases by 2% and its nominal wages rise by 5%. What would you expect to happen to the firm's unit labor costs and product price?
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Essentials of Economics
Authors: N. Gregory Mankiw
8th edition
1337091995, 978-1337515351, 1337515353, 978-1337091992
