The Keynesian economic framework is based on the assumption that prices and wages are sticky and do not adjust quickly
a. True
b. False
Indicate whether the statement is true or false
True
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A change in price will lead to a change in __________ and to a change in __________, while a change in government subsidies will lead to a change in __________ and a change in the number of buyers will lead to a change in __________
A) quantity demanded; quantity supplied; supply; demand B) demand; quantity supplied; supply; quantity demanded C) quantity demanded; supply; quantity supplied; demand D) quantity supplied; quantity demanded; demand; supply E) quantity demanded; demand; quantity supplied; supply
If the CPI declines from one year to the next, then which one of the following statements is not true?
A. The CPI turns negative in the next year. B. There is deflation. C. The inflation rate is negative. D. The average price level is decreasing.