If Your Income and the Price Level Both Rise by 5

question 127

Multiple Choice

If your income and the price level both rise by 5 percent, and you think you now have more real income, you are suffering from

• A)diminishing marginal expectations.
• B)leakages.
• C)injections.
• D)money illusion.

---

Definitions:

Right to Strike

The legal entitlement of workers to engage in strike actions as a means of bargaining and advocating for better working conditions or wages.

Successorship Clause

A provision in a labor contract that ensures a union's collective bargaining agreement is honored by any new owner or operator of the business.

Union Recognition Clause

A provision in a labor contract that establishes an employer's acknowledgment of a union's legitimacy and right to represent its members.

Injunction

A legal order by a court requiring a person to do or cease doing a specific action, often used in labor disputes to restrict certain actions by parties.