Inflation

question 129

Multiple Choice

Inflation:

• A)always reduces real income.
• B)never reduces real income.
• C)reduces the real income of workers when wages increase more than prices do.
• D)reduces the real income of workers when wages increase less than prices do.
• E)increases the real income of workers only when wages increase less than prices do.

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Definitions:

Level Of Needs

A concept reflecting the prioritization of necessities, usually related to Maslow's hierarchy of needs in psychology.

Physiological

Refers to the functions and activities of living organisms and their parts, including all physical and chemical processes.

Safety

The condition of being protected from or unlikely to cause danger, risk, or injury.