Economy, asked by imranmehboob1992, 11 months ago

how does the macroeconomice inflation; economic growth;and unemployment prospects effect over living standard

Answers

Answered by DeathAura

Answer:

we use wage inflation, or the rate of change in wages, as a proxy for inflation in the economy, when unemployment is high, the number of people looking for work significantly exceeds the number of jobs available. In other words, the supply of labor is greater than the demand for it.

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