Which of the Following Is True About Real and Nominal

question 35

Multiple Choice

Which of the following is true about real and nominal wages?

• A)In periods of low inflation,real wages are constant and nominal wages decline.
• B)If the price level is high,real wages will fall.
• C)If the price level is high,nominal wages will fall.
• D)If there is inflation,real wages will change if nominal wages are constant.
• E)If there is a constant inflation rate,real wages will not change unless nominal wages do.

Identify and describe the strategies and outcomes of major battles and military operations during World War II.

Assess the role of technological and scientific advancements during World War II.

Evaluate the social, political, and economic effects of World War II on the United States.

Discuss the rationale and consequences of internment policies and other wartime measures on civil liberties.

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Definitions:

Unilaterally

Acting or done by one side alone without agreement or consultation with others.

Free Trade

An economic policy that allows imports and exports between countries with minimal or no tariffs, quotas, or prohibitions.

Comparative Advantage

The ability of an individual or country to produce a particular good or service at a lower marginal cost than others.

Production Possibilities

Various combinations of goods and services that can be produced within an economy given available resources and technology.