Elucidate the difference in approaches

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Q. Assume that the price level is flexible both upward and downward and that the Fed's policy is to keep the price level from either rising or falling. If the aggregate supply increases in the economy, what should the Fed do?

Q. Both industrial unions and craft unions attempt to raise their members' wages, but each goes about it differently. Elucidate the difference in approaches and describe the impact these differences have on excess quantity of labor supplied.

Reference no: EM1346780

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