2) In the same economy, the nominal wages are determined by the price level (), unemployment rate () and unemployment benefits () according to the function: . If the unemployment benefits amount to 0.5, write the wage relation (WS) and represent it graphically.

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Q: $17.00 $16.00 $15.00 $14.00 $13.00 $12.00 $11.00 $10.00 $9.00 S8.00 +Demand 57 00 56 00 $500 $4.00…

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