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Suppose the inflation rate has been decreasing at the rate of 2% per annum over a period of time. In line with this, workers negotiate
Suppose the inflation rate has been decreasing at the rate of 2% per annum over a period of time. In line with this, workers negotiate a freeze in wages. If the inflation rate unexpectedly rises by 3%, then a. workers are better off b. workers are worse off c. firms are better off d. both firms and workers are worse off
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