Examlex
In the sticky-wage model,if labour contracts specify that the nominal wage be fully indexed for inflation,the short-run aggregate supply schedule will:
Set Point
The desired or target value for a controlled variable in a control system, against which actual values are compared to determine the need for corrective action.
Proportioning Action
A control method where the output is adjusted in proportion to the difference between the actual value and a setpoint.
Proportional Band
A control parameter in PID controllers that determines the range of proportional action surrounding a setpoint for maintaining system stability.
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