Why relatively flat as opposite relatively steep

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Q. Elucidate why relatively flat as opposite relatively steep worker demand curves are more consistent with the empirical observation that there are relatively minor changes in the real wage rate over the course of the business cycle.

If the equilibrium real wage remains constant, illustrate what happens to the nominal wage when the actual inflation rate exceeds the expected inflation rate?

"In the steady state the government profit from inflation." Explain.

Q. Though net investment can be positive, negative, or zero, it is quite impossible for gross investment to be less than zero."

Reference no: EM1321579

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Why relatively flat as opposite relatively steep : Elucidate why relatively flat as opposite relatively steep worker demand curves are more consistent with the empirical observation.

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