The Fact That Output Gaps Will Not Last Indefinitely, but Will

question 157

Multiple Choice

The fact that output gaps will not last indefinitely, but will be closed by rising or falling inflation is the economy's:

• A)short-run equilibrium property.
• B)self-correcting property.
• C)income-expenditure multiplier.
• D)long-run equilibrium property.

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Definitions:

In-store Shopping App

A mobile application designed to enhance the shopping experience within physical retail locations.

Dynamic Pricing

A pricing strategy where the price of a product or service is flexible, changing in response to market demand, competitor prices, or other external factors.

Economy-Class Seats

The most basic and least expensive seating category available on commercial airlines, designed for budget-conscious travelers.

Dynamic Pricing

A pricing strategy where prices are adjusted in real time based on demand, competition, and other external factors.