The So-Called Ratchet Effect Refers to the Characteristic in the Economy

question 128

Multiple Choice

The so-called ratchet effect refers to the characteristic in the economy where product prices, wages, and per-unit production cost are flexible when

• A)AD decreases but not when AD increases.
• B)AD increases but not when AD decreases.
• C)AS increases but not when AS decreases.
• D)AD shifts but not when AS shifts.

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Definitions:

Medical Emergency

A serious and unexpected situation requiring immediate medical attention to prevent death or severe harm.

Acute Respiratory Distress Syndrome

A severe lung condition characterized by rapid onset of widespread inflammation in the lungs, leading to respiratory failure.

Sepsis

A life-threatening condition resulting from the body's severe response to infection, leading to tissue damage, organ failure, and potentially death.

Pulse Oximetry

A noninvasive method to measure the oxygen saturation level of the blood, often used in medical settings to monitor patients' oxygen levels.