A demand-pull inflation initially is characterized by
A. increasing real output and a labor shortage.
B. increasing real output and a labor surplus.
C. decreasing real output and a labor shortage.
D. decreasing real output and a labor surplus.
Answer:A
A demand-pull inflation initially is characterized by
A. increasing real output and a labor shortage. B. increasing real output and a labor surplus. C. decreasing real output and a labor shortage. D. decreasing real output and a labor surplus.