If deflation is 0.5 percent per year and you receive a 1 percent decrease in your salary, then your
A. Real income falls, but your nominal income remains unchanged.
B. Real and nominal income both rise.
C. Real and nominal income both fall.
D. Real income remains unchanged, but your nominal income rises.
Answer: C
Economics
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Name the four types of market structure in order from most competitive to least competitive
What will be an ideal response?
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The production of cigarettes is highly automated; however, a worker is required to monitor each machine. Machines and workers do not interact with one another. Given this information, there are most likely
A) economies of scale. B) economies of scope. C) constant returns to scale. D) increasing returns to scale.
Economics