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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.
How central bank increases the target rate Let's say that the central bank increases the target rate. When the target rate increases, the central bank needs to raise the overni
An advantage of observing statistics from this range is that it encapsulates both positive and negative performances of the economy helping to produce a much more accurate insight
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law of indefference curve
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I''m having trouble understanding the supply curve
COMPARE AND CONTRAST CLASSICAL MODEL AND KEYNESIAN THEOTY
long run supply curve
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