The long run is the peniod of time during which O real wage is excactly equal...
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The long run is the peniod of time during which O real wage is excactly equal to nominal wage O inflation is zero. O excess aggregate demand leads to a shortage. O real wages are constant. O all resource prices are variable. The long run is the peniod of time during which O real wage is excactly equal to nominal wage O inflation is zero. O excess aggregate demand leads to a shortage. O real wages are constant. O all resource prices are variable.
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