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Q. Explain about Price Inflation?
The major reason for allowing for non-constant wages in the model is that we then can allow for persistent deflation/inflation. With constant wages, we can't have persistent inflation as real wages would go to zero.
Neutral inflation is stated as a situation where wage inflation is equal to inflation (in prices). With neutral inflation, real wages are constant. Keynesian model doesn't require neutral inflation and real wages may vary over time. Though we can't have an inflation that is always greater than or always smaller than wage inflation as real wages again would go to zero or infinity (remember, growth has been removed so we expect no upward trend in real wages). Though a few adjustments should be made in the models when we have inflation.
I am in a college econ class that I may possibly fail. anyone able to explain how to find this answer? Assume that the following data characterize the hypothetical economy of Tran
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developing countries benefit through international trade from developed countries
If the firm‘s lowest average cost is $52 and the corresponding average variable cost is $26, what does it pay a perfectly competitive firm to do if • The market price is $51?
Ask question #MinDerive the isoprofit function ?imum 100 words accepted#
x=40-0.2p where x=x1+x2 c1=50+2x1+0.5x1 c2=100+10x2
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