General Juan Peron, the former dictator of Argentina, once said of the labor market in his country, "Prices have gone up the elevator, and wages have had to use the stairs."
a. In this situation, what was happening to real wages in Argentina?
b. Was unemployment likely to have been relatively high or relatively low?
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General Juan Peron, the former dictator of Argentina, once said of the labor market in his country,...
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