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In the basic AD/AS macro model,actual inflation is the sum of three separate components.They are
Picket Line
A boundary established by workers on strike, especially at the entrance to the place of work, aimed at dissuading others from entering the premises as a form of protest.
Collective Bargaining
The process of discussion between employers and a collective of employees designed to achieve consensus on issues related to wages, work environment, advantages, as well as other elements concerning employee benefits and rights.
Primary Negotiator
The primary negotiator is the leading individual or party responsible for conducting negotiations on behalf of a group, organization, or nation, aiming to reach an agreement.
Bargaining Power
The ability of one party in a negotiation to influence the outcome or terms in its favor due to its negotiating strength or advantages.
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