Because of low unemployment rates in the country, employers offer higher wages. To meet their higher payroll costs and maintain profits, they charge consumers more for goods and services. What are the likely consequences?
(A) A wage-price spiral of ever-increasing prices.
(B) Increasing numbers of people living on a fixed income.
(C) Demand-pull inflation.
(D) A prolonged period of deflation.
Ans: (A) A wage-price spiral of ever-increasing prices.
Economics
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a. are set using benefit-cost analysis b. are established using a benefit-based decision rule c. achieve efficient levels of abatement for the criteria pollutants d. both (a) and (c) are correct
Economics
Demand-pull inflation is the result of excessive pressure on the demand side of the economy.
Answer the following statement true (T) or false (F)
Economics