When the money supply is expanding and prices rise rapidly, economic growth
What will be an ideal response?
is slowed by the resulting unpredictability of the future level of prices
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In the short run, the intersection of the aggregate demand and the short-run aggregate supply curves,
A) determines the equilibrium price level. B) is a point where there is neither a surplus nor a shortage of goods. C) determines the equilibrium level of real GDP. D) All of the above answers are correct.
An organization offers training programs for its employees at a subsidized rate to help them use a nascent technology that the organization is adopting. The trained employees later bargain for a higher wage from the management as their probability of finding better paying jobs increase because some other companies are also adopting it. This action of the employees is an example of:
a. selfishness. b. holding up. c. opportunism. d. specificity.