Exam questions first prelim ECON 102

Answer: deflation is a decrease in the overall price level. 2.2. Give an example of an event which could make energy costs decline. (1 point) Answer: Any event which shifts the supply of oil to the right (such as the discovery of a new oil track) and any event which shifts the demand of energy inwards. 2.3. Why does the Fed target a low ... ................
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