If the Price of Peanuts Increases by 10 Percent and the Price

question 54

Multiple Choice

If the price of peanuts increases by 10 percent and the price of potato chips does not change, then the relative price of peanuts with respect to potato chips will ________ and the relative price of potato chips with respect to peanuts will ________.

• A) rise; rise
• B) rise; fall
• C) fall; rise
• D) fall; fall

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Definitions:

Overseas Workers

Individuals who are employed in a country other than their country of origin, often contributing to foreign economies and remitting earnings back home.

Ethical Decision-making

The method of assessing and selecting options in a way that aligns with moral standards.

Justice

A fundamental moral concept focusing on the fairness, righteousness, and equality in the distribution of resources, opportunities, and treatment within society.

Ethics

Moral principles that guide our behavior.