If the Actual Price Level Is 165,but People Had Been

question 90

Multiple Choice

If the actual price level is 165,but people had been expecting it to be 160,then

• A)the quantity of output supplied rises,but only in the short run.
• B)the quantity of output supplied rises in the short run and the long run.
• C)the quantity of output supplied falls,but only in the short run.
• D)the quantity of output supplied falls in the short run and the long run.

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Definitions:

Indirect Pay

Compensation that includes benefits provided by the employer but are not directly paid out as cash, such as health insurance and retirement plans.

Supplemental Medical Coverage

Additional health insurance that covers costs not covered by a primary insurance plan, including copayments, deductibles, and non-covered services.

Market Pricing

The process of determining the value of a job in the external job market by comparing it with similar jobs in other organizations.

Equity

Fair treatment and distribution of resources, or in finance, the value of an ownership interest in property, including shareholders' equity in a corporation.