The self-correcting property of the economy means that output gaps are eventually eliminated by:
A. increasing or decreasing potential output.
B. government policy.
C. decreasing inflation only.
D. increasing or decreasing inflation.
Answer: D
Economics
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What will be an ideal response?
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Refer to the above table. What is the absolute price elasticity of demand when a price rises from $9 to $9.50?
A) 0.35 B) 0.55 C) 2.57 D) 2.85
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