The Following Is a List of Economic Events

question 113

Multiple Choice

The following is a list of economic events:
1.A big cut in the price of imported oil.
2.An increase in the money supply.
3.An increase in labour productivity.
4.A decline in the GDP of the USA
5.A big rise in nominal wages.
-How does the economy eventually adjust to a recessionary gap?

• A)The nominal wage and price levels will both increase.
• B)The nominal wage and price level will both decrease.
• C)The nominal wage level will decrease but the price level will increase.
• D)The nominal wage level will increase but the price level will decrease.

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Definitions:

Percentage Of Idle Time

The proportion of time that machinery or employees are not engaged in productive work, often expressed as a percentage.

Non-Financial Indicators

Metrics used to assess aspects of a business's performance that are not expressed in monetary terms, such as customer satisfaction or employee turnover.

Product Availability

Refers to the extent to which products are in stock and accessible to customers at the point and time of need.

Stock Outs

Situations where the demand for a product exceeds the supply, leading to an unavailability of the product.