The self-correcting tendency of the economy means that rising inflation eventually eliminates:
A. unemployment.
B. exogenous spending.
C. recessionary gaps.
D. expansionary gaps.
Answer: D
Economics
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In calculating the IS curve, _______ is taken as exogenous
a. the interest rate. b. aggregate income. c. the price level. d. planned investment. e. a and d.
Economics
During which decade did the original Phillips curve break down? Also, briefly explain why the original Phillips curve broke during this period
What will be an ideal response?
Economics