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Author Question: When wages and prices are completely flexible ________. A) inflation is determined by expected ... (Read 38 times)

maegan_martin

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on: Jun 30, 2018
When wages and prices are completely flexible ________.
 
  A) inflation is determined by expected inflation and price shocks
  B) labor hoarding occurs
  C) unemployment is disconnected from the real economy
  D) all of the above
  E) none of the above

Question 2

Are all categories of government expenditures included in gross domestic product? What government activities are not included in GDP?
 
  What will be an ideal response?


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amandalm

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Reply #1 on: Jun 30, 2018
Answer to Question 1

A

Answer to Question 2

No, all categories of government spending do not represent a demand for currently produced goods and services. For instance, government spending on transfer payment programs like social security and Medicare are not included.


maegan_martin

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Reply #2 on: Jun 30, 2018
Thank you :)


amandalm

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Reply #3 on: Jun 30, 2018
Happy to help you


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