In the Short Run, If the Price Level Rises, Then

question 135

Multiple Choice

In the short run, if the price level rises, then the overall economy can temporarily produce beyond its nominal capacity. One reason for this is that

• A) workers can be switched from counted to uncounted production.
• B) existing capital equipment can be used more intensively.
• C) wage rates rise almost simultaneously with the price level.
• D) the unemployment rate usually rises dramatically along with the price level.

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Definitions:

Genetic Diversity

The total number of genetic characteristics in the genetic makeup of a species, it serves as a way for populations to adapt to changing environments.

Adaptive Trait

A genetically inherited characteristic that enhances an organism’s ability to survive and reproduce in its environment.

Phenotypes

The set of observable characteristics or traits of an organism resulting from the interaction of its genotype with the environment.

Conservation Biology

A field of science dedicated to understanding and preserving Earth's biodiversity and the habitats of various species through conservation practices.