The Prices of Most Services Have Risen Much Faster Than

question 30

Multiple Choice

The prices of most services have risen much faster than inflation in recent years because

• A)wages and salaries of service providers have risen much faster than inflation.
• B)wages and salaries of service providers have risen, but their productivity has not.
• C)the productivity of service providers has risen dramatically.
• D)the demand for services has risen.

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Definitions:

Soybeans

A type of legume native to East Asia, widely grown for its edible bean which has numerous uses.

Demand

The quantity of a good or service that consumers are willing and able to purchase at a given price.

Price Of Margarine

The cost at which margarine is sold, which may vary depending on the brand, ingredients, and market dynamics.

Consumer Purchases

Refers to the goods and services bought by individuals and households for personal use.