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QUESTION
When wages are fixed by contract, inflation reduces a. nominal wages; this likely makes labor markets more flexible. nominal wages; this likely...
1. When wages are fixed by contract, inflation reduces
a. nominal wages; this likely makes labor markets more flexible.
b. nominal wages; this likely makes labor markets less flexible.
c. real wages; this likely makes labor markets more flexible.
d. real wages; this likely makes labor markets less flexible.
