Business, 05.05.2020 06:01 Angel1107

Consider the three theories of the upward slope of the short-run aggregate-supply curve. According to the sticky-wage theory, the economy is in a recession because the price level has declined so that real wages are too , thus labor demand is too .According to the sticky-price theory, the economy is in a recession because .According to the misperceptions theory, the economy is in a recession when the price level is what was expected. (fill in the blanks).

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Consider the three theories of the upward slope of the short-run aggregate-supply curve. According t...

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