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Suppose that a spike in the price of gasoline is due to inflation but ismisinterpreted by suppliers as an increase in demand, leading to overproductionof
Suppose that a spike in the price of gasoline is due to inflation but ismisinterpreted by suppliers as an increase in demand, leading to overproductionof gasoline. This would be an example of a.problem. a. money illusion b. price confusion c. menu cost d. wealth redistribution e. shoe-leather cost
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The World Economy Geography, Business, Development
Authors: Frederick P. Stutz, Barney Warf
6th edition
321722508, 321722507, 978-0321722508
