What does the DMP model predict would be the effects of labor unions?
September 3, 2020
Starting from long run equilibrium, in response to a decrease in AD:The price level will increase more in the long run than in the short run.
September 3, 2020

The economy of Smallville produces three goods: wheat, fish, and melons. The accompanying table shows the prices and output of the three goods for the years 2012, 2013, and 2014.


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