When workers do not notice inflation has taken place they do not realize that their real wage has declined. This phenomenon is consistent with which reason for the upward slope in the SRAS curve? mispreceptions the interest rate effect menu costs the principle-agent problem
When workers do not notice inflation has taken place they do not realize that their real wage has declined. This phenomenon is consistent with which reason for the upward slope in the SRAS curve? mispreceptions the interest rate effect menu costs the principle-agent problem
Chapter13: Inflation
Section: Chapter Questions
Problem 16SQ
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Question
When workers do not notice inflation has taken place they do not realize that their real wage has declined. This phenomenon is consistent with which reason for the upward slope in the SRAS curve?
mispreceptions |
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the interest rate effect |
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menu costs |
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the principle-agent problem |
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