When wages or benefits are automatically increased based on the reported inflation rate, it is called the ________ adjustment
A) cost-of-living B) change in imports
C) natural flow of money D) change in exports
A
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Refer to the information provided in Figure 13.1 below to answer the question that follows.
Figure 13.1Refer to Figure 13.1. Of the following choices, Panel A best represents the demand curve for
A. an individual producer of soybeans. B. insulin. C. a utility company. D. none of the above
When a specialized worker gains insights into a particular task that leads to better production methods, this is called
A) repetition. B) specialization. C) continuity. D) innovation.
An example of automatic fiscal policy is
A) an interest rate cut, initiated by an act of Congress. B) an increase in the quantity of money. C) a tax cut, initiated by an act of Congress. D) a decrease in tax revenues, triggered by the state of the economy. E) any change in the interest rate, regardless of its cause.
Consider the market for broccoli. If the price of a pound of broccoli increases, what happens to the supply of broccoli?
A) The supply of broccoli decreases. B) The supply of broccoli increases. C) There will be no change in the supply of broccoli, but instead there is an increase in the quantity supplied of broccoli. D) There will be no change in the supply of broccoli, but instead there is a decrease in the quantity supplied of broccoli.