Question

Which of these would result from high inflation in the United States?

U.S. goods would be less expensive than before.
Americans would demand higher wages.
Income levels in the workforce would fall.
The Consumer Price Index would be a negative number.
Question 3 (Multiple Choice Worth 5 points)

(05.06 LC)

To increase your standard of living, your wages must

rise faster than the inflation rate
rise more slowly than the inflation rate
keep pace with the inflation rate
have a negative inflation rate

Answer 1

@clayton4christ

Answer 2

First, You need to understand the meaning of inflation. inflation is a sustained increase in the general price level of goods and services in an economy over a period of time. So, for example, when the price of gas or a food or anything really goes up, that is what inflation is.

Answer 3

So we can eliminate A

Answer 4

Here's my problem in this question. Income levels fell, and as a result of that, workers demand higher wages. So, really, there won't be one without the other.

Answer 5

B?

Answer 6

Now for the second one, I can tell you for sure that only one makes sense. If you moved the same as an inflation rate, you are neutral. If you are slower, you are going to become poorer. Therefore, you must make more money quicker than the inflation rate is so that you can become "ahead of the game" as some might say.

Answer 7

I would go with B for the first one

Answer 8

That is the most in sense one. Because with the higher rate of inflation, whether or not the boss wants to lower wages, people will still want more pay because living is more expensive

Answer 9

To increase your standard of living, your wages must

rise faster than the inflation rate
rise more slowly than the inflation rate
keep pace with the inflation rate
have a negative inflation rate

Answer 10

I just answered that

Answer 11

was it A right?