Actual price level, Determine what does a contractionary

Actual price level

Reference no: EM1368990

What does a contractionary gap imply about the actual rate of unemployment relative to the natural rate?

What does it imply about the actual price level relative to the expected price level?

What must happen to real and nominal wages in order to close a contractionary gap?

Reference no: EM1368990

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Actual price level : Determine what does a contractionary gap imply about the actual rate of unemployment relative to the natural rate?

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