The Supply-Side Inflation Episodes of the 1970s

question 36

Multiple Choice

The supply-side inflation episodes of the 1970s

• A) occurred during periods of full employment of both human and capital resources.
• B)shifted the aggregate supply curve downward to the right.
• C)were largely the result of crude oil price increases.
• D)were touched off by a sharp decline in the money supply.
• E)were caused, in part, by the lack of market power of labor unions and large corporations.

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