A Price Shock Is

question 33

Multiple Choice

A price shock is

• A)a shift in the aggregate demand curve.
• B)the same as a demand shock.
• C)a change in potential GDP.
• D)the same as a supply shock.
• E)a shift in the inflation adjustment line.

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Definitions:

Wage Discrimination

The practice of paying employees differently for the same work based on gender, race, age, or other non-performance-related factors.

Seniority System

A system in a workplace where employee benefits such as promotions and layoffs are determined based on the length of service.

Strategic Objectives

High-level goals aligned with an organization's mission and vision, focused on achieving long-term success.

Compensation System

A structured plan designed by organizations to pay its employees, including wages, benefits, bonuses, and raises.