Multiple Choice
If the economy is self-regulating,then it follows that
A) recessionary and inflationary gaps are temporary economic states.
B) wages will fall when the economy is in a recessionary gap.
C) wages will rise when the economy is in an inflationary gap.
D) the economy is always in long-run equilibrium.
E) a,b and c
Correct Answer:
Verified
Correct Answer:
Verified
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