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  • Task M5

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    bendermacherrick
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    This document discusses several economic theories related to wage determination, unemployment, and price setting including reservation wages, efficiency wages, bargaining, the natural level of unemployment, and mark-ups. It asks questions about the relationship between pay and unemployment, price setting and real wages, wage setting and price setting on unemployment, and why the unemployment rate returns to the natural rate focusing on the role of expectations.

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    This document discusses several economic theories related to wage determination, unemployment, and price setting including reservation wages, efficiency wages, bargaining, the natural level of unemployment, and mark-ups. It asks questions about the relationship between pay and unemployment, price setting and real wages, wage setting and price setting on unemployment, and why the unemployment rate returns to the natural rate focusing on the role of expectations.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    15 views1 page

    Task M5

    Uploaded by

    bendermacherrick
    This document discusses several economic theories related to wage determination, unemployment, and price setting including reservation wages, efficiency wages, bargaining, the natural level of unemployment, and mark-ups. It asks questions about the relationship between pay and unemployment, price setting and real wages, wage setting and price setting on unemployment, and why the unemployment rate returns to the natural rate focusing on the role of expectations.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    Task M5

    - Reservation wages
    - Efficiency wages
    - Bargaining
    - Natural level of unemployment
    - Mark-ups
    - How are wages determined? What is the relation between pay and unemployment?
    - What is the relation between price setting and the real wage?
    - What is the relation between wage setting, price setting and unemployment? What is the
    battle of mark-ups?
    - Why does the unemployment rate return to natural rate? What is the role of expectations?

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