A Fast-Food Joint Decided to Raise the Price of Its

question 1

Multiple Choice

A fast-food joint decided to raise the price of its cheeseburger from $1 to $2.It also removed accompaniments that were served with the cheeseburger.This was due to increasing commodity prices.This is an example of:

• A)deflation.
• B)foreign currency fluctuation.
• C)inflation.
• D)recession.
• E)shoe leather cost.

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Definitions:

Lie

A false statement made with deliberate intent to deceive; an intentional untruth.

Harry Braverman

An American Marxist sociologist and writer known for his work on labor and the degradation of work in the twentieth century.

Capitalists

Individuals or entities that own capital, invest in businesses, and seek to generate profit from their investments.

Profits

The financial gains obtained when the revenues generated from a business activity exceed the expenses, costs, and taxes involved in sustaining the activity.