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Supposed there is a contemporaneous fall in the labour productivity and the trade union power become stronger. (i)Using a WS-PS curve (wage setting-price setting), explain

Supposed there is a contemporaneous fall in the labour productivity and the

trade union power become stronger.

(i)Using a WS-PS curve (wage setting-price setting), explain the effects

on the labour market.

(ii)Explain how the central bank reacts upon a change in the labour

market equilibrium.

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