When the Price Level Rises and the Money Wage Rate

question 273

Multiple Choice

When the price level rises and the money wage rate does not change,

• A)the quantity of real GDP supplied increases as more businesses start up and potential GDP does not change.
• B)the quantity of real GDP supplied decreases as more businesses fail and potential GDP does not change.
• C)profits fall and more businesses fail.
• D)existing businesses do not change their level of output.
• E)the quantity of potential GDP increases because the quantity of real GDP supplied increases.

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Definitions:

Communism

A political and economic ideology advocating for a classless society in which the means of production are owned and controlled by the community as a whole.

Racial Tensions

The stress, hostility, or conflict arising from perceived or real differences between races or ethnic groups, often rooted in historical injustices and systemic disparities.

Hegemonic Masculinity

Refers to cultural norms that promote the dominant social position of men, and the subordinate social position of women.

Triracial Stratification

A sociological model that describes the division of society into three racial groups, often hierarchical, influencing socioeconomic status and opportunities.