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Your brother came home last night feeling frustrated because his real wage has decreased compared to a year ago.He said that his union should not

Your brother came home last night feeling frustrated because his real wage has decreased compared to a year ago.He said that his union should not have signed an agreement with his employer for an annual wage rise of 2 percent.Explain what your brother meant using the concepts of real income, nominal income, anticipated and unanticipated inflation rate.

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