Question 1
The demand for massage therapists declined in the spring of 2016, but the starting wages paid to massage therapists was still the same at the end of 2016. This is an example of a
◦ sticky price.
◦ flexible price.
◦ highly regulated market.
◦ price control.
Question 2
An increase in the overall price level is known as
◦ deflation.
◦ recession.
◦ inflation.
◦ stagflation.