The reason that changes in spending don't immediately flow into changes in inflation is that:
A. the velocity of money changes only slowly.
B. real GDP is relatively stable.
C. prices and wages are sticky.
D. inflation depends on the money supply.
Ans: C. prices and wages are sticky.
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Which of the following is most likely to increase the Herfindahl index of a particular industry?
A. A horizontal merger between two of the industry's largest firms. B. A vertical merger between one of an industry's largest firms and one of the many input suppliers in the resource market. C. A conglomerate merger involving one of the industry's major firms. D. An agreement by all the industry firms to divide up the market among them.
Discrimination can come from many groups of people, including employers and fellow employees.
Answer the following statement true (T) or false (F)