Simplify $$\left( \frac { 5 } { 8 } \right) ^ { - 2 }$$

question 30

Multiple Choice

Simplify. $$\left( \frac { 5 } { 8 } \right) ^ { - 2 }$$

• A) \(\frac { 1 } { 2 }\)
• B) \(\frac { 64 } { 25 }\)
• C) \(- \frac { 25 } { 64 }\)
• D) \(- \frac { 5 } { 4 }\)

Identify the conditions under which economic profits are realized or losses are incurred.

Comprehend the impact of average fixed and variable costs on the firm's decision to produce or shut down in the short run.

Understand the significance of increasing health literacy among college students.

Comprehend the psychosocial and health consequences of campus violence and sexual harassment among college students.

---

Definitions:

Inflation Rate

The measure of inflation through the rising cost of goods and services, which diminishes the power of currency.

Nominal Wage

The wage earned by an employee, expressed in current currency terms, without adjustment for inflation or changes in purchasing power.

Efficiency Wage

A wage set above the market equilibrium by employers in an effort to enhance productivity, attract higher quality employees, and reduce turnover.

Constant Dollars

A term used to describe a measure of dollars that has been adjusted for inflation, reflecting the real value of money over time.