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Read the sentence. The cost of lumber has increased 145 percent since last quarter. What is the most likely outcome in the furniture market? Responses
Read the sentence. The cost of lumber has increased 145 percent since last quarter. What is the most likely outcome in the furniture market? Responses The market will see cost-push inflation because the increased cost of inputs force prices higher.The market will see cost-push inflation because the increased cost of inputs force prices higher. The market will see a rapid rise in inflation because inelastic products respond quickly to market forces.The market will see a rapid rise in inflation because inelastic products respond quickly to market forces. The market will see no inflation because there has not been a change in personal income.The market will see no inflation because there has not been a change in personal income. The market will see demand-pull inflation because consumers need more of the product.The market will see demand-pull inflation because consumers need more of the product
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