Principles of Macroeconomics (12th Edition)
12th Edition
ISBN: 9780134061115
Author: CASE
Publisher: PEARSON
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Question
Chapter 12, Problem 3.3P
To determine
Identify the effect of inflation in short run.
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Which of the following statements is correct?
a.
Inflation and unemployment are negatively related in the short run and in the long run.
b.
In the short run, unemployment and inflation are negatively related. In the long run they are largely unrelated problems.
c.
In the short run, unemployment and inflation are positively related. In the long run they are largely unrelated problems.
d.
Inflation and unemployment are positively related in the short run and in the long run.
In the short run, there is a positive relationship between
A. inflation and unemployment
B. inflation and real GDP
C. the actual price level and aggregate quantity supplied
D. the actual price level and unemployment
E. the actual price level and consumption spending
Why should a business owner be concern with the inflation rate in the Dairy products industry, and how might it have an impact on the Dairy products industry?
Chapter 12 Solutions
Principles of Macroeconomics (12th Edition)
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