Milton Friedman Argued That the Economy Is Not in Long-Run

question 128

Multiple Choice

Milton Friedman argued that the economy is not in long-run equilibrium if the expected inflation rate __________ the actual inflation rate.

• A) is less than
• B) is greater than
• C) equals
• D) a and b

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Definitions:

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Outcomes that could not reasonably be predicted or expected to result from specific actions or events.

Commonly Known Dangers

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Advertising that misleads consumers, either by unjustified claims concerning a product's performance or by failure to disclose relevant information concerning the product's composition or performance.

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