Prices and Wages Tend to Be

question 108

Multiple Choice

Prices and wages tend to be

• A)flexible both upward and downward.
• B)inflexible both upward and downward.
• C)flexible downward but inflexible upward.
• D)flexible upward but inflexible downward.

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Definitions:

Restraint of Trade

Any activity or agreement that restricts competition in the marketplace, often reviewed under antitrust laws.

Commerce

The activity of buying and selling goods and services, especially on a large scale, including legal, economic, and political interactions.

Antitrust Law

Laws designed to prevent anti-competitive practices, monopolies, and to promote fair competition for the benefit of consumers.

Remedies

Measures or actions taken to solve a problem, correct a fault, or improve a situation.