Macroeconomics Study Set 48
Quiz 16: Inflation, Disinflation, and Deflation
The Worst Inflation in the United States in Modern Times
The worst inflation in the United States in modern times occurred in the late 1970s, when prices were increasing at an annual rate of 13%.
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In June 2008 Zimbabwe had the world's highest unemployment rate.
In the classical model of the price level, there is no distinction between the short run and the long run.
The short-run aggregate supply curve is positively sloped because wages and prices are not all completely flexible.
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