In the Short-Run, Demand-Pull Inflation Increases

question 73

Multiple Choice

In the short-run, demand-pull inflation increases

• A)real wages, but in the long-run only nominal wages.
• B)nominal wages, but in the long-run only real wages.
• C)real output and the price level, but in the long-run only real output.
• D)real output and the price level, but in the long-run only the price level.

Understand the implications of the FTC rules established in the 1970s for protecting consumers against HDC abuses.

Recognize and distinguish between "real" and "personal" defenses available against claims made by holders or HDCs.

Understand the concept of negotiation and the role of endorsements in the transferability of negotiable instruments.

Understand the definition and characteristics of negotiable instruments.

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Definitions:

Presidential Election 2000

A highly contentious and close election in the United States between George W. Bush and Al Gore, ultimately decided by a Supreme Court ruling in favor of Bush.

State of Florida

A southeastern state in the United States, known for its beaches, theme parks, and as a popular retirement destination.

Cold War

A period of geopolitical tension between the Soviet Union and the United States, along with their respective allies, from the end of World War II in 1945 until the collapse of the Soviet Union in 1991, characterized by threats, propaganda, and other measures short of open warfare.

Bush Administration

Refers to the period of George W. Bush's presidency over the United States from 2001 to 2009, marked by events such as the 9/11 attacks and the Iraq War.