Social Studies, 12.04.2021 08:40, kkeith121p6ujlt
A. Suppose fast food workers currently earn $8 per hour and the aggregate price level is $2. A number of the workers, believing that their real wage is too low, organized a strike for fast-food workers.
1. If next year’s aggregate price level is $4, what must their wage be next year so that the workers have a real wage that is equal to this year’s real wage?
2. If next year’s aggregate price level is $4, what must their wage be next year so that the workers have a real wage that is 50% greater?
Answers: 3
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A. Suppose fast food workers currently earn $8 per hour and the aggregate price level is $2. A numbe...
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