in #busy6 years ago
Hello steemians friends, the domestic price level, depend on the nominal salary level, is also associated with factors such as the exchange rate or the international price of imported inputs. In the short term, given that the nominal salary and the exchange rate are independent of the level of activity, the price level is constant and therefore the aggregate supply is perfectly elastic.

The minimum salary to 1800 bs.S, will be the basis for updating all salary tables

The increase will apply to pensioners and all workers in the country.
Maduro will assume for 90 days the differential of the payroll of the Small and Medium Industry, in addition to the private sector of Venezuela.
from next week, those enrolled in the Carnet de la Patria system will receive the counterclaim bonus in the amount of 600 bs.S.
the setting of the Value Added Tax (VAT) that will go from 12% to 16%.
a single type of fluctuating change. They will also raise to five weekly auctions in the Dicom, until reaching the goal of one per day.

Petro will be equivalent to 60 dollars or more. Each Petro will have a value of 3,600 sovereign bolivars and will be the fluctuating unit of account that will serve to fix the value of labor and the price of consumer goods.

In the medium term, the salary will be located, based on the expectations of the agents on the future level of prices of the economy. Therefore, in the medium term, the assumption of rigidities in prices and salaries is not valid and the aggregate supply curve has a positive slope, which allows us to affirm that entrepreneurs would be willing to offer a greater quantity of production, only to a greater price level. In the long term, in the stationary equilibrium, there are no discrepancies between the level of expected prices and actual prices, therefore prices and wages do not affect employment and production decisions, which implies that in the long term the aggregate supply curve is perfectly inelastic.

In the real world, there are factors that alter the amount offered by companies for a certain level of prices. These factors are called supply shocks. An increase in productivity generates a reduction in unit production costs, which means that the price of the good gradually decreases.


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