Recall the Application about the behavior of prices in retail catalogs to answer the following question(s). In the Application, findings by Anil Kasyap showed that even though the catalogs listed in the Application were reissued every six months, the prices which were tracked in these retail catalogs:

A. were typically fixed for a year or more.
B. changed every month.
C. tended to fall during periods of high inflation.
D. were not listed due to low rates of inflation.


Answer: A

Economics

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