Discuss the sticky-wage model of aggregate supply carefully
Discuss the sticky-wage model of aggregate supply, carefully identifying any assumptions made. How well does the sticky-wage model explain the observed behaviour of real wages over the business cycle?
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Calculate and Plot using a spreadsheet the series for Real GDP and calculate and Plot using a spreadsheet the yearly % changes in Nominal GDP (i.e. [GDPt+1-GDPt]/GDPt)
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