Inflation caused by continually decreasing short-run aggregate supply is
A) demand-pull inflation. B) demand-push inflation.
C) cost-push inflation. D) cost-pull inflation.
C
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When governments rapidly increase the supply of money, the usual result is
a. deflation. b. low inflation. c. hyperinflation. d. increasing long-term investment.
As price falls, quantity demanded ___________.
Fill in the blank(s) with the appropriate word(s).
Lower wages for women relative to those for men constitute wage discrimination if women earn lower wages:
A. but are equally productive. B. and have lower productivity than men. C. in clerical and service occupations. D. due to career interruptions to raise children.
The value of total output decreases when labor leaves one industry and goes to another and capital leaves the second industry and goes to the first. This indicates that
A) the first situation was not efficient. B) the second situation is efficient. C) price is greater than marginal cost. D) it would be efficient to return to the first situation.