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Suppose that the economy of Wetland shown in the following figure is in full-employment equilibrium and the present nominal wage is $800 per week
a)What is the real wage (in base year prices)?
b)Suppose that aggregate demand increases by $100.At the new equilibrium,what will be the new value of the real wage rate?
c)As a result of the change in b),suppose the nominal wage increases,causing aggregate supply to decrease by $100.At the new equilibrium,what will be the new real wage rate?
d)At the new equilibrium in c),what is the value of the nominal wage rate?
Starter Relay
An electrical device that transmits power to the starter motor, initiating the engine's operation in a vehicle.
Starter Solenoid
An electromagnetic switch that engages the starter motor of a vehicle, initiating the engine's starting process.
Pinion Gear
A small gear that engages with a larger gear or rack, often used in automotive differentials to transfer rotational motion.
Flywheel Ring Gear
A circular gear attached to the outer edge of a flywheel, interfacing with the starter motor to begin engine rotation.
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