ECON 100 WEEK 11 QUESTION 2

User Generated

xxrlf71

Economics

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?

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Explanation & Answer

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


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