Disinflation Is

question 172

Multiple Choice

Disinflation is

• A)the same as deflation.
• B)a constant price level.
• C)negative inflation.
• D)a drop in the average level of prices.
• E)a reduction in the annual rate of inflation.

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Definitions:

Marginal Revenue Product

The change in the total revenue of a firm that results from the employment of one additional unit of a resource. The marginal revenue product of an input is equal to its marginal product multiplied by the marginal revenue of the good or service produced.

Political Entrepreneurs

Individuals or entities that seek to gain profit, advantage, or influence through the political process rather than through market competition.

Wage Rate

The fixed amount of compensation or payment given to an employee by an employer in exchange for the employee's labor, typically expressed per hour or per year.

Training

The process of enhancing the skills, capabilities, and knowledge of employees for the improvement of their performance.