Suppose the economy is experiencing an inflationary gap. In the long run, if there is no government intervention, the nominal wages will_________, unemployment will________, and price level will___________. Group of answer choices rise; fall; rise rise; fall; fall rise; rise; rise fall; fall; fall
Suppose the economy is experiencing an inflationary gap. In the long run, if there is no government intervention, the nominal wages will_________, unemployment will________, and price level will___________. Group of answer choices rise; fall; rise rise; fall; fall rise; rise; rise fall; fall; fall
Chapter13: Inflation
Section: Chapter Questions
Problem 7SQ
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Question
Suppose the economy is experiencing an inflationary gap. In the long run, if there is no government intervention, the nominal wages will_________, unemployment will________, and price level will___________.
Group of answer choices
rise; fall; rise
rise; fall; fall
rise; rise; rise
fall; fall; fall
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