Inflation initiated by increases in wages or other resource prices is labelled:
What will be an ideal response?
cost-push inflation
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The above table shows Priscilla's marginal utility from the two goods she consumes, pizza and Pepsi. A slice of pizza costs $4 and a can of Pepsi $2. Suppose Priscilla has $12 to spend
If the price of pizza decreases, Priscilla's preferences (her marginal utility schedule) for pizza A) will increase. B) will decrease. C) will not change. D) may increase or decrease depending on what happens to the price of Pepsi.
How do lags affect stabilization policy? Your answer should include three specific types of lags
A protectionist policy generally enhances free trade.
a. true b. false
When there is underproduction in a market,
A. market price is too high. B. there is a deadweight loss. C. the total of consumer and producer surplus is maximized. D. there is excess quantity supplied.