Which of the following best describes when the economy is experiencing inflation? When
Technological change in an industry that historically required specific labor skills will lead to
A useful measure of the size of the workforce, that is, the number of individuals who are willing and able to work, is
If inflation causes the demand for houses to increase more rapidly than the demand for other goods, the economy has experienced which effect
In an economy like that of the US, due to a variety of institutional and social factors, wages tend to be
Which price index is also known as the cost-of-living index?
The psychological law of consumption tells us the marginal propensity to consume will be
The effects of inflation on the distribution of income are called
In the circular flow diagram, economic units are classified as
The Phillips curve depicts the relationship between
The determinants of aggregate supply are
Which of the following is most likely be hurt by inflation?
People who are unemployed due to a downturn in economic activity are classified in the category of
If inflation stimulates production and employment, the economy experiences which of the following effects of inflation?