if nominal wages decrease, which of the following would occur to the price level and unemployment in the long run? Price level unemployment Increase increase Increase stay the same Decrease increase Decrease decrease Stay the same increase
Added by Marcus M.
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Nominal wages refer to the amount of money paid to workers without adjusting for inflation. A decrease in nominal wages typically means that workers are receiving less money for their labor. Show more…
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Shaiju T.
9. In the determination of nominal wages (W) in the labour market, a ____ Select one: A. change in institutional factors will not influence nominal wage demands. B. higher unemployment rate will increase nominal wage demands. C. higher unemployment rate will decrease nominal wage demands. D. decrease in the expected price level will increase nominal wage demands.
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