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Q. Illustrate what does a contraction Gap imply about the actual rate of unemployment relative to the natural rate? Illustrate what does it imply about the actual price level relative to the expected price level? Illustrate what most happen to real also nominal wages in order close a contraction gap?
Another one for thinking. Notice which it has 3 questions; the 1st two are about Illustrate what happens during a Contraction Gap for Unemployment also Price Levels also the Third is about explain how It is Closed the CG. Two Steps.
Do not complicate yourself, this are simple ones you just have to read the sections carefully. Is going to be available for two weeks as usual but do not get behind."
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