When Inflation Rises,people

question 35

Multiple Choice

When inflation rises,people

• A)make less frequent trips to the bank and firms make less frequent price changes.
• B)make less frequent trips to the bank while firms make more frequent price changes.
• C)make more frequent trips to the bank while firms make less frequent price changes.
• D)make more frequent trips to the bank and firms make more frequent price changes.

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Definitions:

Ratify

To confirm by expressing consent, approval, or formal sanction.

Contract

A legally binding agreement between two or more parties outlining specific obligations and rights, which, if broken, can result in legal consequences.

Agreement

A mutual understanding or arrangement between two or more parties outlining their respective rights and obligations.

Agents

Individuals or entities authorized to act on behalf of another, known as the principal, in dealings with third parties.