In the Blanchard/New Consensus model, the PS line shifts due to changes in costs and productivity; in
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In the Blanchard/New Consensus model, the PS line shifts due to changes in costs and productivity; in the alternative model, the PS line can shift due to changes in costs and productivity, too, but also by changes in demand." Explain.
"In the Blanchard/New Consensus model, labor costs change when W changes; in the alternative model, labor costs are considered as a total "bill" composed of W, jobs, and hours, any of which may be changed."
Related Book For
International Marketing And Export Management
ISBN: 9781292016924
8th Edition
Authors: Gerald Albaum , Alexander Josiassen , Edwin Duerr
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