Relationship between the real wage and the price level

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Reference no: EM131403113

Suppose a worker receives a wage of $20 per hour. Compute the real wage (money wage deflated by the price index) corresponding to each of the following possible price levels: 85, 95, 100, 110, 120. What do you notice about the relationship between the real wage and the price level? Relate your finding to the slope of the aggregate supply curve.

Reference no: EM131403113

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