Demand-Pull Inflation in the Short Run Raises the Price Level

question 17

Multiple Choice

Demand-pull inflation in the short run raises the price level and

• A)real wages.
• B)real output.
• C)the unemployment rate.
• D)nominal wages.

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Definitions:

Impermeable

Something that does not allow fluids or substances to pass through it.

Bipolar

A mental disorder characterized by extreme mood swings, including periods of extreme highs (mania) and lows (depression).

Personal Constructs

In Kelly’s theory, the bipolar cognitive structures through which people process information.

Classifications

The systematic arrangement of entities into groups or categories based on shared characteristics or principles.