The Price of a First-Class Stamp in 1957 Was 3

question 228

Multiple Choice

The price of a first-class stamp in 1957 was 3 cents, and it is 49 cents in 2014. From this we know that

• A)both the relative and the absolute price of first-class stamps increased from 1957 to 2014.
• B)the money price of first-class stamps increased from 1957 to 2014 but the absolute price of first-class stamps stayed constant.
• C)the money price of first-class stamps increased from 1957 to 2014 and the relative price of first-class stamps decreased.
• D)the money price of first-class stamps increased from 1957 to 2014, but we can't tell if the relative price of first-class stamps increased or decreased without more information.

Understand the implications of organizational design choices on HR functions.

Grasp the concept of agency problems and their impact on organizational performance.

Understand the concept of utility and how it influences consumer choices.

Apply the optimal consumption rule to analyze consumer behavior.

---

Definitions:

Homeostatic

A condition or process by which a stable internal environment is maintained in a living organism despite external changes.

Disulfiram (Antabuse)

A medication used to support the treatment of chronic alcoholism by producing an acute sensitivity to ethanol.

Pharmacological Treatment

The use of drugs to manage or cure illnesses, including mental health conditions.