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Q. Explain about Nominal wage level?
In macroeconomics, we are usually not interested in the wage for a specific individual though in the average wage for all employed individuals. This average is known as the wage level however because we typically only care about the wage level, we will almost always use wage when we essentially mean the wage level. So a statement like 'wages increase'must not be interpreted as all wages increasing, though rather that average is increasing.
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According to Keynes, the economy could become stuck at a low income level if: A. aggregate demand and aggregate supply are independent of one another. B. declines in aggregate dema
Could you please tell me an example and describe example of macroeconomics?
ALL SELLERS MAY BE TEMPTED TO RAISE THE PRICE OF WHAT THEY SELL, BUT A NEGATIVE UNINTENDED EFFECT OF RAISING THE PRIE COULD BE______ IN UNITS SOLD LARGE ENOUGH TO _____THEIR TOTAL
Subsistence theory of wage determination
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If Starbucks's marketing department estimates the income elasticity of demand for its coffee to be 2.9, how will the prospect of an economic bust (expected to decrease consumers' i
why is international trade important south africa
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