If there are steady decreases in aggregate supply, the economy will experience
A) a slow decrease in price levels.
B) demand-side inflation.
C) an expansionary gap.
D) supply-side inflation.
D
Economics
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You would expect the demand for food to be more inelastic than the demand for cookies
Indicate whether the statement is true or false
Economics
The term "stagflation" was invented in the 1970s to describe an economy experiencing both
a. deflation and economic stagnation. b. inflation and economic stagnation. c. high inflation and high employment. d. high inflation and high levels of economic growth.
Economics