One reason stagflation is difficult to recover from is because:
A. less output requires less inputs to be hired.
B. prices tend to adjust more quickly downward than upward.
C. wages are sticky downward.
D. input prices increase with output prices.
Answer: C
Economics
You might also like to view...
Suppose the market-clearing price of milk is $3.00 per gallon, but the dairy industry persuades the government to establish a legally-mandated price support at $4.00 per gallon. The newly legislated price tends to
A) increase the supply of milk. B) reduce the demand for milk. C) increase the quantity supplied of milk. D) increase the quantity demanded of milk.
Economics
In 2005, SSI recipients received more than twice the average monthly payment than TANF recipients got
Indicate whether the statement is true or false
Economics