Robert J. Gordon Northwestern University, NBER, and CEPR AEA Panel, Denver January 7, 2011 The Recession and Recovery: Implications for Labor Markets and Macro Doctrine Two…

Product Markets Markets in which firms sell goods and services to households or other firms Products made from the economy’s resources Factor Markets Markets in which resources…

Robert J. Gordon Northwestern University, NBER, and CEPR AEA Panel, Denver January 7, 2011 The Recession and Recovery: Implications for Labor Markets and Macro Doctrine Two…

Product Markets Markets in which firms sell goods and services to households or other firms Products made from the economy’s resources Factor Markets Markets in which resources…

Who Decides Wage Rates? Who Decides Wage Rates? WHO DECIDES WAGE RATES? OBJECTIVES Students will be able to: Explain how sellers of labor and buyers of labor interact to…