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What was the behavior of nominal wages in the 1930s?
A) They remained virtually constant, justifying the assumption of nominal wage rigidity.
B) They fell tremendously, just as Classical macroeconomics predicts.
C) They fell a bit at first, but then rose even as output remained far below natural real GDP.
D) They rose throughout the decade, just as Keynesian macroeconomics predicts.
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Macroeconomics

Macroeconomics


Edition: 12th
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6 years ago
ty ty ty..
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