When Prices Are Inflexible, the Economy Will Respond to Demand

question 154

True/False

When prices are inflexible, the economy will respond to demand shocks through short-run changes
in output and unemployment.

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Definitions:

Peri-

A prefix meaning around or surrounding, often used in medical terms to describe areas surrounding a structure or organ.

Audi/o

A prefix meaning related to hearing or sound.

Organ of Corti

A structure located in the cochlea of the inner ear, responsible for converting sound vibrations into nerve impulses.

Otorhinolaryngology

A surgical subspecialty within medicine that deals with conditions of the ear, nose, and throat (ENT) and related structures of the head and neck.