If aggregate supply keeps decreasing while aggregate demand does not change, there will come at time when
a. demand-dull inflation will occur
b. cost-push inflation will occur
c. demand-push inflation will occur
d. cost-pull inflation will occur
e. the economy will reach full employment
B
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New classical economics
a. resulted from the high inflation and unemployment of the 1970s. b. developed in an era of high inflation and unemployment during the 1970s. c. resulted from the dissatisfaction associated with the prevailing Keynesian orthodoxy. d. Both b and c. e. all of the above.
If incomes in the United States increase, other things equal, then U.S. _____
a. imports increase and exports remain constant b. exports increase and imports decrease c. imports decrease and exports decrease d. imports remain constant and exports increase e. net exports remains constant