Question: That employers are reluctant to decrease nominal wages during economic downturns and raise nominal wages during economic expansions leads nominal wages to be described as

That employers are reluctant to decrease nominal wages during economic downturns and raise nominal wages during economic expansions leads nominal wages to be described as

a. long-run.

b. unyielding.

c. flexible.

d. real.

e. sticky.

a. Draw a correctly labeled short-run aggregate supply curve.

b. On your graph from part

a, illustrate a decrease in short-run aggregate supply.

c. List three types of changes, including the factor that changes and the direction of the change, that could lead to a decrease in aggregate supply

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