People Often Complain About Price Gouging After a Disaster Such

question 82

Multiple Choice

People often complain about price gouging after a disaster such as a hurricane. Suppose the government successfully prevented price increases due to the disaster. We would expect

• A) reconstruction to take longer because the quantity supplied of new materials would increase more slowly.
• B) reconstruction to take less time because the demand for materials would increase faster.
• C) reconstruction never to occur.
• D) reconstruction to take less time because the government could rebuild more quickly when people are not in the way.

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Definitions:

Corporate Culture

The shared beliefs, values, norms, and practices that shape the social and psychological environment of a business organization.

Lead Strategy

A proactive approach in business or planning that focuses on establishing dominance in a particular area or sector before competitors.

Compa-Ratio

An index that indicates how an individual’s or a group’s salary relates to the midpoint of their relevant pay grades.

Piecework

A type of incentive system that compensates workers for each unit of output.