Menu Costs Will

question 59

Multiple Choice

Menu costs will

• A)increase the amount of training of workers.
• B)result in price wars between businesses.
• C)increase the legal minimum wage.
• D)make prices inflexible downwarD.Learning Objective: 32-06 Describe how the AD-AS model explains periods of demand-pull inflation, cost-push inflation, and recession.

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Definitions:

Regression Model

A statistical technique used to predict the value of a dependent variable based on the values of one or more independent variables.

Coefficient

Before a variable in an algebraic expression, there lies a constant or numerical amount that serves to multiply it.

Constant

A fixed value in mathematics and science that does not change in a given context, often represented by a symbol.

Predict

The act of making an educated guess about the future based on past and present data or trends.