What happens to the price level-the nominal wage

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For the Keynessians, as for the classicals, there is money neutrality in the long-term for the theory of aggregate supply. However the short-run is a different issue. What happens in the short run as the money supply increases? What happens to the price level, the nominal wage, unemployment and real GDP in the transition from the short run to the long run?

Reference no: EM131388885

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