In an Effort to Discover Whether or Not Workers Understand

question 76

Multiple Choice

In an effort to discover whether or not workers understand inflation, economist Robert Shiller conducted a survey. When asked about the effect of general inflation on their wages or salary, the most popular response coming from workers was:

• A) "My wages usually catch up to rising prices within a year."
• B) "The price increase will create extra profit for my employer.... There will be no effect on my pay."
• C) "My wages have always increased by more than the rate of inflation."
• D) None of the above is correct.

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Definitions:

n Ach

A term referring to the need for achievement, a motivational drive to accomplish goals and succeed.

Ring Toss Game

A game where players throw rings from a distance, aiming to land them around pegs or within targets for points.

Self-Actualization

The realization or fulfillment of one's talents and potentialities, often considered as a drive or need present in everyone.

Inborn Potential

The inherent capacity or natural ability present from birth that can develop into talents or skills with encouragement and practice.