The Key to a Less-Painful Disinflation Is to Reduce the Flexibility

question 157

True/False

The key to a less-painful disinflation is to reduce the flexibility in nominal wages.

---

Definitions:

Reagan Presidency

The period of American leadership under Ronald Reagan, the 40th President of the United States, from 1981 to 1989, noted for its conservative policies.

Great Society

A set of domestic programs in the United States, launched by President Lyndon B. Johnson, aimed at eliminating poverty and racial injustice.

Privatization

The process of transferring ownership of a business, enterprise, agency, or public service from the government to private individuals or organizations.

Market-Based Reform

Changes or improvements to policies or practices that are guided by the principles of free market competition.