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When GDP is below potential output, prices fall because

victor.m.rojas2

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When GDP is below potential output, prices fall because

When GDP is below potential output, prices fall because

▸ firms can easily find new workers and can offer lower wages, which decreases the costs of production.

▸ firms find it difficult to hire and retain workers and are forced to offer higher wages, which increases the costs of production.

▸ firms can easily find new workers and are forced to offer higher wages, which decreases the costs of production.

▸ firms find it difficult to hire and retain workers and can offer higher wages, which decreases the costs of production.

Textbook

Macroeconomics: Principles, Applications and Tools

Edition: 7^th

Authors: O'Sullivan, Sheffrin, Perez

Read 70 times

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More solutions for this book are available here

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victor.m.rojas2 Author

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You make an excellent tutor!

Lourd Jenkins

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Good timing, thanks!

ealvino1610

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I appreciate what you did here, answered it right Smiling Face with Open Mouth

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