When there is an inflationary gap:
A) upward pressure on the growth of wage rates shifts the AS curve up.
B) increased output levels raise aggregate demand.
C) downward pressure on the growth of wage rates shift the AS curve down.
D) wage rates will raise more rapidly and productivity will rise.
Correct Answer:
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Q51: Which one of the following statements is
Q52: The short-run AS curve is drawn on
Q53: The short-run AS curve is upward-sloping because:
A)
Q54: The aggregate supply (AS) curve will shift
Q55: When there is a recessionary gap, wage
Q57: If a short-run equilibrium with a recessionary
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