If the Price Level Increases More Rapidly Than Expected,_____

question 85

Multiple Choice

If the price level increases more rapidly than expected,_____.

• A)output will decrease
• B)output will increase
• C)output will not change
• D)real wages will increase
• E)unemployment will increase

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Definitions:

Specific Procedure

A set of established steps or actions designed to achieve a particular outcome or result in a precise manner.

Behavior

The observable actions or reactions of humans or animals in response to external or internal stimuli.

Variable

Any characteristic whose values can change.

Testable Hypothesis

A prediction that has been formulated specifically enough so that it is clear what observations would confirm the prediction and what observations would challenge it.