Answer: A - nominal wages are slow to adjust to changing economic conditions
Explanation:
In the short run, the costs of many of the factors used in the production process are fixed. For example labours wage is fixed for a number of years because of labour contracts. Also the raw materials used in the production process have long term agreements that fix their prices.
As a result of factors of production been fixed in the short run, when general price level rises and the cost of production remains constant, profit also rises.
Firms take advantage of this rise in price and increase production and the quantity of aggregate supply increases. This is why the short run aggregate supply curve is upward sloping.
A team is linked to the organization's hierarchy,
with some shift of power to team; the leader has limited managerial power;
decision-making is consultative, democratic, or by consensus
In a pure market economy, the "What to produce?" question is ultimately answered by : consumer sovereignty.
Explanation:
Market autonomy is a two-way economic concept. Market autonomy in production applies to what finished products should be produced from these materials to the control power of the customers over those with scarce resources.
For example, the highest levels of consumer autonomy occur of consumers on the free market. The customer can buy any product in any quantity he wants. But the state or central government decides what to manufacture in a command economy.
The incorrect statement is : The income from the TSA is received income tax-free. Upon retirement, payments received by employees from the accumulated savings in tax-sheltered annuities are treated as ordinary income.
Possible losses due to negligence resulting in bodily harm or property damage to others are called B.) LIABILITY risks.
Liability is an obligation that you must do or must pay for.