________ corresponds to lower output and ________ corresponds to higher output.

A. Demand-pull inflation; stagflation
B. Cost-push inflation; demand-pull inflation
C. Demand-pull inflation; cost-push inflation
D. Stagflation; cost-push inflation

Answer: B

Economics

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List and describe three of the five different lags that can occur which may impede the effectiveness of the use of fiscal policy

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