In the Long Run, Cost-Push Inflation Results in a Simultaneous

question 95

True/False

In the long run, cost-push inflation results in a simultaneous decrease in the price level and real output.

---

Definitions:

Digital Cameras

are devices that capture photographs in digital form, allowing for easy storage, editing, and sharing.

Equilibrium Price

A pricing point in the market where the volume of goods on offer is equal to the volume of goods sought after.

Shortage of Strawberries

A situation where the demand for strawberries exceeds the supply available in the market, often leading to increased prices and unmet consumer demand.

Competitive Market

A market structure characterized by many buyers and sellers, free entry and exit, and products that are similar enough to be considered substitutes.