What most accurately describes what happened to earnings in the US between 1914 and 1920?
a. Both nominal and real earnings increased substantially.
b. Nominal and real earnings dropped significantly as the World War I triggered a recession.
c. Nominal earnings increased slightly, but real wages decreased because of the large inflation.
d. A period of deflation led real earnings to increase even though nominal earnings had decreased slightly.
a. Both nominal and real earnings increased substantially.
Economics
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The Law of Supply states
A) that supply curves slope upward. B) that supply curves can be vertical or horizontal. C) Both A and B. D) None of the above.
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