If the General Level of Prices Is Lower Than Business

question 99

Multiple Choice

If the general level of prices is lower than business decision makers anticipated when they entered into long-term contracts for raw materials and other resources, which of the following is most likely to occur?

• A) an economic boom
• B) highly attractive profit margins
• C) output less than the economy's long-run potential
• D) a sharp increase in imports

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Definitions:

Assessment Methods

Techniques and tools used to evaluate, measure, and document the knowledge, skills, attitudes, and beliefs of an individual or group.

Normal Distribution

A statistical distribution where most observations cluster around the central peak and the probabilities for values further away from the mean taper off equally in both directions.

Scores

Numerical expressions resulting from the evaluation or measurement of something, often used for comparisons or assessments.

Personality Scales

Tools or instruments used to assess and measure individual personality characteristics and traits.