Which of the following most accurately describes what occurs during a time of inflation?
A) People must work longer to live as well.
B) Prices rise faster than incomes.
C) The average standard of living declines.
D) The cost of living increases.
E) The purchasing power of money falls.
E
Economics
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Fast food places do not pay their workers less than minimum wage because it is against the law. Which of Kohlberg's stages does this describe?
a. stage 1 b. stage 2 c. stage 3 d. stage 4
Economics
Socially inefficient outcomes may occur in markets where there are: a. negative externalities present
b. asymmetric information problems present. c. positive externalities present. d. any of the above.
Economics