The cost-of-living adjustments that are included in the wage contracts protect:
a. businesses from unexpected inflation.
b. workers from unexpected inflation.
c. workers from expected inflation.
d. employers from unexpected inflation.
e. consumers from expected inflation.
b
You might also like to view...
GDP measured using base year prices is called ________.
A. deflated GDP B. real GDP C. constant GDP D. nominal GDP
Many economists criticize monopolists because they
a. charge a price that equals marginal cost rather than a price that equals average cost. b. do not innovate. c. produce a large quantity of waste. d. produce less than the socially efficient level of output.
The MC curve intersects the AVC and ATC curves at their minimum points
A. none of the time. B. some of the time. C. most of the time. D. all of the time.
Which statement is true?
A. Our money supply is fixed by law and can be raised by only a very small percentage each year. B. Our money supply is backed by gold. C. Credit cards are a form of money. D. Money makes an excellent store of value during times of inflation. E. One of the basic jobs of money is a standard of value.