What phase of the business cycle (the demand-pull or the cost-push phase of an expansion or a

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What phase of the business cycle (the demand-pull or the cost-push phase of an expansion or a recession) is the economy in when these statements are made?

a. “Unions have negotiated for lower wages so as to retain their jobs.”

b. “Unemployment has fallen dramatically as inflation has accelerated.”

c. “Firms have been forced by recent wage hikes to raise their prices and produce less.”

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