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Suppose than successive AD/SAS equilibrium points run up a vertical line to the right of the LAS curve.It must be the case that inflation is ________ the average expected inflation figured into the wage contracts in force,which allows output to ________ the natural GDP.
Conspicuous Waste
The act of deliberately wasting resources or money as a way to display one's wealth or status.
Status Symbol
An object or behavior that signifies the social or economic status of the individual who possesses it.
Rich Celebrities
Famous individuals who have accumulated substantial wealth through their careers in entertainment, sports, or other public domains.
Gas-Guzzling SUVs
describes sport utility vehicles that are highly inefficient in fuel usage, typically consuming a large amount of gasoline compared to smaller, more fuel-efficient cars.
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