Which of the Following Is Not Consistent with a Self-Regulating

question 166

Multiple Choice

Which of the following is not consistent with a self-regulating economy?

• A) flexible prices
• B) flexible wages
• C) a labor market in which wages fall if there is a surplus
• D) a labor market in which wages rise if there is a shortage
• E) none of the above (all are consistent with a self-regulating economy)

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Definitions:

Non-material Culture

The ideas, beliefs, practices, and values of a society, in contrast to its physical objects and technology (material culture).

Material Culture

The physical objects, resources, and spaces that people use to define their culture, including homes, places of worship, and items of daily use.

Cultural Norms

Established standards of behavior or beliefs that are accepted and expected within a specific culture or society.

Culture

A complex collection of values, beliefs, behaviours, and material objects shared by a group and passed on from one generation to the next.