Unexpected Inflation Harms Workers and Other Resource Suppliers Who Have

question 33

Multiple Choice

Unexpected inflation harms workers and other resource suppliers who have ________ prices in the ________ run.

• A) flexible; short
• B) fixed; short
• C) fixed; long
• D) flexible; medium

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Definitions:

Confirmation Bias

The tendency to interpret new evidence as confirmation of one's existing beliefs or theories.

Rationalist

One who claims that most human knowledge comes through reason.

Memories

The faculty by which the mind stores and remembers information, or the recollections themselves.

Outstanding Events

Exceptional or remarkable occurrences that stand out from ordinary events.