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- Nevertheless, currency impression will not sufficiently take into account the new device in the office in the Phillips bend.
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The next desk portrays the facts out of difference in nominal terminology and genuine words. Even in a time period of deflation (falling prices) workers are attending fight nominal salary cuts from the psych0logical cost of viewing a belong affordable wages. Therefore inside a time period of deflation, we can get genuine salary unemployment – jobless caused by earnings above the equilibrium.
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