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In an economy where the real wage and employment level are determined by the intersection of the wage-setting and price-setting relationships, the resulting equilibrium implies that there is no involuntary unemployment.
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Ch.2 Unemployment, wages, and inequality: Supply-side policies and institutions - The Economy 2.0 Macroeconomics @ CORE Econ
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In an economy where the real wage and employment level are determined by the intersection of the wage-setting and price-setting relationships, the resulting equilibrium implies that there is no involuntary unemployment.
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