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The gure below illustrates sticky prices and falling demand in the labor and goods markets. Labor (a) Sticky wages in the labor market (b) Sticky

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The gure below illustrates sticky prices and falling demand in the labor and goods markets. Labor (a) Sticky wages in the labor market (b) Sticky prices in the goods market Sticky_prices in the labor and goods markets Explain: a. The effect of sticky wages in the labor market justifying why this cause unemployment. b. The effect of sticky prices in the goods marketjustifying why this cause recession

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