In macroeconomics, the period of time in which prices have fully adjusted to any economic changes is called the short run.
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Q12: In the short run, _ in the
Q13: When employees demand higher wages as a
Q14: Wages and prices throughout an economy are
Q15: A wage-price spiral occurs when
A) rising wages
Q16: In the long run, any decreases in
Q18: If potential output is _ than the
Q19: When GDP is below potential output, prices
Q20: In the long run
A) prices are sticky.
B)
Q21: Assuming an upward-sloping short-run aggregate supply curve,
Q22: As output exceeds potential output, wages and
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