Examlex
You find that to attract a sufficient number of workers you have to pay them more dollars.Given the price of your output you determine you are paying your workers more in goods than before.Which of the following has risen?
Price Level
A measure of the average prices of goods and services in an economy at a specific time, indicating the cost of living.
Economic Circumstances
The current state of the economy, which can affect financial markets, consumer behavior, and business operations.
Foreign Exchange Market
A marketplace where currencies are traded internationally, allowing businesses and countries to convert currency for international trade and finance.
Aggregate Demand
The total demand for all goods and services in an economy at any given overall price level and in a given time period.
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