-Using the above graph, if the labor demand curve were to shift to the left as depicted and firms enter into social, or implicit, contracts with workers not to cut wages what will be the wage rate and the level of employment.
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Q2: Q3: Based on the classical view of the Q4: Assume that the percentage of the labor Q5: Assume that wages are sticky in a Q6: Define cyclical unemployment. Q8: According the Classical view what are the Q9: What school of thought would be consistent
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