Calculate the Equilibrium Real Wage Rate by Homework Help Classof1

Calculate the Equilibrium Real Wage Rate

byHomework Help Classof1

Kobo ebook | May 2, 2013

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"a) Calculate the equilibrium real wage rate and the equilibrium quantity of labor.
b) Suppose that the nominal wage rate equals 60.  In the short-run, aggregate demand and aggregate supply are equal at a price level of 1.0.  Compute the real wage rate.  Explain where actual real output is relative to natural real output.  Suppose that policymakers change aggregate demand so that in long-run equilibrium, the nominal wage rate stays at 60.  What is the long-run equilibrium price level?  Explain whether policymakers took actions that increased or decreased aggregate demand.

Title:Calculate the Equilibrium Real Wage RateFormat:Kobo ebookPublished:May 2, 2013Publisher:Classof1Language:English

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