Multiple Choice
In 1973,the oil embargo sparked a wage-price spiral due to higher energy costs.In 2004,with a similar spike in oil prices,there was not a corresponding wage-price spiral.The cause of this was
A) Heavy government regulation.
B) Alternative energy sources.
C) Competition from overseas keeping a lid on wages and prices.
D) Unanticipated inflation.
Correct Answer:
Verified
Correct Answer:
Verified
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