When the economy's actual price level exceeds the expected price level, the real value of an agreed-on ________ ________ declines
a. real wage
b. nominal wage
c. contractual price
d. supply level
b
Economics
You might also like to view...
In a market-based economy, only the government can reduce economic uncertainty
Indicate whether the statement is true or false
Economics
Examples of precommitments, to deal with people's time inconsistency problems, include the following except:
A. Automatic payroll deductions B. Debit card accounts C. Early withdrawal penalties D. Salary smoothing
Economics