In Which of the Following Situations Will an Individual's Purchasing

question 50

Multiple Choice

In which of the following situations will an individual's purchasing power be unaffected?

• A)all absolute prices fall by 15% and money income falls by 15%
• B)all relative prices fall by 15% and money income falls by 15%
• C)all relative prices rise by 15% and money income falls by 15%
• D)all absolute prices remain constant and money income falls by 15%
• E)all relative prices remain constant and money income rises by 15%

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Definitions:

Virtual Team

A group of individuals who work across time, space, and organizational boundaries, and interact through technology.

Videoconferencing

A technology that allows people in different locations to hold face-to-face meetings without having to move to a single location.

Maternity Leave

A period of absence from work granted to a mother before and after the birth of her child.

Resources

Assets, materials, and other inputs required by organizations or individuals to produce goods or services.