Inflation:
a. always reduces real income

b. never reduces real income.
c. reduces the real income of workers when wages increase more than prices do.
d. reduces the real income of workers when wages increase less than prices do.
e. increases the real income of workers only when wages increase less than prices do.


d

Economics

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Indicate whether the statement is true or false

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A) Disposable B) Voluntary C) Induced D) Autonomous

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Refer to Scenario 7.1. Which piece of information would NOT be helpful in calculating the marginal cost of the 75th unit of output?

A) The total cost of 75 units B) The total cost of 74 units C) The variable cost of 75 units D) The variable cost of 74 units E) The firm's fixed cost

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To keep employees from shirking, you can invest in greater monitoring

a. even though monitoring is expensive b. especially when monitoring is not very efficient c. when employees fail to respond to incentive contracts d. when incentives solve both moral hazard and adverse selection problems with employees

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