When Prices Are Fixed for a Period of Time,such as with Long-Term

question 46

Multiple Choice

When prices are fixed for a period of time,such as with long-term contracts that fix wages,then

• A)the government needs to intervene to adjust prices.
• B)prices adjust,but not quickly enough to avoid shortages or surpluses.
• C)prices do not adjust to changes in market conditions.
• D)prices adjust instantly.
• E)None of the above.

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Definitions:

N3 Sleep

The third stage of non-REM sleep that is characterized by deep, restorative sleep and the presence of delta waves in brain activity.

REM Rebound

The phenomenon where there is an increased frequency and intensity of REM (Rapid Eye Movement) sleep after periods of REM sleep deprivation.

Narcolepsy

An enduring disorder of sleep featuring overpowering drowsiness in daytime hours and sudden instances of sleeping.

Sleepwalking

A sleep disorder causing people to get up and walk around during deep sleep, often with no memory of the event.