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What is price-wage rigidity?  Do you agree with Keynes assessment that wage-price rigidity requires government’s involvement in the markets?  Why?  Why not?

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Price wage rigidity is referred to as a situation when price of things does not alter readily, with reference to the change in demand and supply of the things and it’s because of the downward inflexibility of price wage which result into unemployment of labor (Galí, 2013). Contrary to the classical theory, wage tends to be rigid at the downside because after 

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