Which One of the Following Statements Is FALSE

question 2

Multiple Choice

Which one of the following statements is FALSE?

• A) Generally, what matters most to consumers is what a good costs in dollars.
• B) The relative price of a good is its price measured relative to the price of other goods.
• C) The nominal price of a good is its price measured in current dollars.
• D) When the price of beer goes up by the same proportion as the prices of all other goods, the relative price of beer does not change.

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Definitions:

Employment Contract

A formal agreement between an employer and employee that outlines the terms and conditions of employment.

Common Law

refers to law derived from judicial decisions of courts and similar tribunals, as opposed to statutes or regulations.

Employment Standards Act

A body of law that establishes minimum employment conditions such as wages, hours of work, and leave entitlements.

Wrongful Dismissal

Termination of an employee's contract of employment in breach of the contract or without proper legal reason.