If Workers Fail to Anticipate Inflation Increases, Their Real Wages

question 202

True/False

If workers fail to anticipate inflation increases, their real wages are likely to fall.

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Definitions:

Disaffirm

The legal act of rejecting or voiding a contract or agreement, especially used in contexts where one party is not legally competent to enter into a contract.

Contract

A contract is an official agreement among two or more individuals creating reciprocal legal duties that can be upheld in court.

Emancipated

The condition of being freed from legal, social, or political restrictions; commonly referring to a minor legally recognized as capable of acting as an adult.

Age of Majority

The legal age at which an individual is considered an adult and responsible for his or her own actions, varying by jurisdiction.