In an Effort to Discover Whether or Not Workers Understand

question 175

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 affect 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:

Object Permanence

The understanding that objects continue to exist even when they cannot be observed (seen, heard, touched, smelled, or sensed in any way).

Conservation

The act of preserving, protecting, or restoring the natural environment and its wildlife.

Cognitive Development

The construction of thought processes, including remembering, problem solving, and decision-making, from childhood through adolescence to adulthood.

Attention Span

The length of time a person can concentrate on a task without becoming distracted.