Suppose That in 2012,all Prices in the Economy Double and That

question 99

Multiple Choice

Suppose that in 2012,all prices in the economy double and that all wages and salaries have also doubled.In 2012 you

• A) are worse off than you were in 2011 as you can no longer afford to buy as many goods and services.
• B) are better off than you were in 2011 as your salary is higher than it was in 2011 and you can now buy more goods and services.
• C) are no better off or worse off than you were in 2011 as the purchasing power of your salary has remained the same.
• D) cannot determine whether you are better off or worse off than you were in 2011, because the purchasing power of your salary cannot be determined.

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Definitions:

Achieving Styles

The characteristic ways in which individuals seek to achieve their goals and attain success.

Motivated

Being enthusiastic or driven to achieve certain goals or complete tasks.

Emotional Intelligence

The ability to understand, use, and manage your own emotions in positive ways to relieve stress, communicate effectively, empathize with others, overcome challenges, and defuse conflict.

Managing Emotions

The ability to recognize, understand, and control one's own emotions and to influence the emotions of others in a positive way.