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• Still, money fantasy does not effectively account for the newest system at the office in the Phillips contour.
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Another table portrays the main points out of difference in nominal terms and you can actual conditions. Even in a period of deflation (dropping costs) employees are gonna fight affordable wage slices from the psych0logical price of seeing a belong moderate earnings. Thus within the a period of deflation, we could get actual wage jobless – jobless as a result of wages above the harmony.

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