Find the Word or Phrase That Best Completes Each Statement

question 25

Short Answer

Find the word or phrase that best completes each statement.
(a) When firms use their monopoly power to push up prices, this is known as:
(b) When wages rise independently of the demand for labour, this is known as:
(c) If the price of oil rises, this would be known as:

(i)import- price inflation.
(ii)wage- push inflation.
(iii)profit- push inflation.

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Definitions:

Thyroid Gland

An endocrine gland in the neck that produces hormones regulating growth and development through the rate of metabolism.

Iodine

A chemical element with antiseptic properties and a key component in thyroid hormones, necessary for proper metabolic functions.

Adrenal Tumors

Abnormal growths that occur in the adrenal glands, which can be benign or malignant and may affect hormone production.

17-KS Test

A diagnostic test that measures the levels of 17-ketosteroids in the urine to assess adrenal gland function.