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If Workers Expect Inflation, and Tend to Overestimate Actual Inflation

question 154

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If workers expect inflation, and tend to overestimate actual inflation when they negotiate wage increases, the result will be a continuing


Definitions:

RuBP

Ribulose biphosphate, a molecule that acts as the acceptor of carbon dioxide in the first step of the Calvin cycle during photosynthesis.

Carbons

Chemical elements with the symbol C and atomic number 6, essential to all known life, and the basis of organic chemistry.

Electron Transport Chain

A series of complexes that transfer electrons from electron donors to electron acceptors via redox reactions, and couples this electron transfer with the transfer of protons (H+ ions) across a membrane.

Calvin Cycle

A set of biochemical reactions that take place in the stroma of chloroplasts in photosynthetic organisms, resulting in the conversion of carbon dioxide and other compounds into glucose.

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