How keynesians explain why wages not be free to move
What is wage/price rigidity? Why is this important in the Keynesian view of the causes of fluctuations of output and employment? How do new Keynesians attempt to explain why wages /prices may not be free to move flexibly to clear markets (labor).
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What is wage/price rigidity? Why is this important in the Keynesian view of the causes of fluctuations of output and employment?
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