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In early 2022, housing prices were high and rising. Suppose that builders interpreted the high prices as a sign of growing demand and built more
In early 2022, housing prices were high and rising. Suppose that builders interpreted the high prices as a sign of growing demand and built more houses to meet that demand, when really the high prices were due entirely to inflation. This would be an example of the __________ problem. Question 31 options: a) shoe-leather cost b) menu cost c) future price uncertainty d) velocity of money e) price confusion
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