Hyperinflation occurs when
A)the inflation rate rises.
B)the inflation rate declines.
C)the inflation rate is extremely high.
D)the inflation rate is extremely low.
A COLA is
A)a center of labor activity.
B)a cost of living adjustment.
C)a contract on long-term assets.
D)a crisis of labor analysis.
The reduction of the inflation rate is called
The costs of disinflation would be low if
A)expected inflation falls as inflation falls.
B)wage and price controls were used.
C)the Phillips curve were nearly horizontal.
D)the Phillips curve adjusted slowly to changes in inflation.