If the Economy Is Self-Regulating and in an Inflationary Gap

question 143

Multiple Choice

If the economy is self-regulating and in an inflationary gap,

• A) wages and prices will fall.
• B) wages will rise,but prices will fall.
• C) wages and prices will rise.
• D) wages will fall,but prices will rise.
• E) neither wages nor prices will change.

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Definitions:

Mode of Communication

The method or process by which information is conveyed between individuals or groups, such as verbal, written, or non-verbal communication.

Mailbox Rule

is a legal principle that an offer, acceptance, or any other form of legal communication is considered effective once it is dispatched, not when it is received.

Rebate

A partial refund given to someone who has paid too much for tax, rent, or a utility.

Mailbox Rule

The mailbox rule is a legal principle that an offer is considered accepted once the acceptance is properly placed in the mail, even if it is lost or delayed.