The More Flexible Prices Are, the

question 153

Multiple Choice

The more flexible prices are, the

• A) greater demand shifts have to be to bring about a new equilibrium.
• B) larger the shifts in supply will be after a change in demand.
• C) greater the reliance by sellers to change the nominal price.
• D) more quickly a shock to the economy can be absorbed.

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Definitions:

Widowhood Effect

The phenomenon where the death of a spouse increases the mortality risk for the surviving spouse, often due to emotional, social, and health-related factors.

Widowed Person

An individual whose spouse has died and who has not remarried.

Die

To cease to live or exist; the end of life.

Least Tragic

Pertains to the least sorrowful, dismal, or distressing situation in a set of unfavorable circumstances.