Why would equal-sized falls in aggregate output

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Q. In Northlandia, re is no labour contracts; that is, wage rates can be renegotiated at any time. But in Southlandia, wage rates are set at beginning of each odd year and last for two years. Why would equal-sized falls in aggregate output due to a fall in aggregate demand have different effects on magnitude and duration of unemployment in se two economies?

Reference no: EM1372494

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