Question 1
The demand for auto mechanics increased in the summer of 2016, but the starting wages paid to auto mechanics was still the same at the end of 2016. This is an example of a
◦ price control.
◦ flexible price.
◦ sticky price.
◦ highly regulated market.
Question 2
Inflation refers to a(n) ________ in the overall ________.
◦ increase; price level
◦ increase; unemployment rate
◦ decrease; price level
◦ decrease; unemployment rate