The typical results of an adverse supply shock are lower output and higher inflation.
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Q52: As long as the multiplier process is
Q53: If the data show that periods of
Q54: An increase in the nominal wage shifts
Q55: Stagflation exists when prices rise and output
Q56: Inflation can be caused either by rapid
Q58: Recessionary gap arises when
A)inventory stock falls.
B)government spending
Q59: In the period from 1996 to 2000,
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Q61: The slope of the aggregate supply curve
Q62: A decrease in the nominal wage will
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