Which Statement Is CORRECT

question 31

Multiple Choice

Which statement is CORRECT?

• A) Supply and demand cannot explain why a particular good or service becomes more expensive relative to other goods and services.
• B) Inflation affects only the more advanced countries, whereas less advanced countries face deflation.
• C) Employment levels remained stable during the Great Depression.
• D) When the economy is in recession and jobs are hard to find, inflation tends to fall.

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Definitions:

Disinterested Third Party

An impartial and unbiased individual or entity not involved in the interests or concerns of the principal parties in a transaction or dispute.

ADR

Stands for Alternative Dispute Resolution, which is a range of processes and techniques used to resolve conflicts or disputes without litigating in court.

Arbitration

A method of settling disputes in which a dispute is submitted to a disinterested third party (other than a court), who issues a decision that may or may not be legally binding.

Negotiation

The process of discussing an issue between two or more parties with the goal of reaching a consensus or solving a problem.