If the price level is higher than expected, firms might raise their production in the short run if a. the nominal wage they pay their employees was set based on the expected price level. b. prices are costly to adjust and they have set their price at some time in the past but are not ready to change it. c. they believe that the price of their product has risen relative to the price of other products, when in fact the rise in the price of their product reflects an increase in the general price level.

What happens when a bank is required to hold more money in reserve?

Responsible for setting the goals and planning for the future as well as leading and controlling the work of others. out the decisions of top management. often responsible for various departments such as the production, marketing, and accounting departments. process or function of planning organizing leading and controlling. the resources arranged in an orderly and functional way to accomplish goals and objectives. the company on track and making sure goals are met. for the daily operations of a business. examples of this are supervisors, office managers, and crew leaders. act or process of creating goals and objectives as well as the strategies to meet them. for the daily operations of a business. examples of this are supervisors, office managers, and crew leaders. how the firm is structured and who is in charge of whom. direction and vision

10. which of the following is true regarding preretirement inflation? a. defined-benefit plans provide more inflation protection than defined-contribution plans. b. because of preretirement inflation, possible investment-related growth is increased for defined-contribution plans. c. all types of benefits are designed to cope with preretirement inflation. d. preretirement inflation is generally reflected in the increase in an employee's compensation level over a working career.