Business Finance
ECON 100 WEEK 11 QUESTION 2

Question Description

The government has tried to create wage growth with a higher minimum wage which is leading to less jobs.  We have too few people making too little money.  If no one has any money does demand go up and drive inflation?

Final Answer

No, the opposite, demands go down. If money shortage is severe enough, a country can experience deflation, the opposite of inflation.

cernejr (118)
Boston College

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