“I’d rather have a 1% pay cut when prices fall by 3%

“I’d rather have a 1% pay cut when prices fall by 3% than a 5% pay increase when the rate of inflation is 8%. ” This is an example of: A: IrrationalityB: Rising real wageC: Deflation always being better than inflationD: Excessive aggregate demand

“I’d rather have a 1% pay cut when prices fall by 3%

“I’d rather have a 1% pay cut when prices fall by 3% than a 5% pay increase when the rate of inflation is 8%.” This is an example of:

A: Irrationality

B: Rising real wage

C: Deflation always being better than inflation

D: Excessive aggregate demand

"I'd rather have a 1% pay cut when prices fall by 3%

Question

“I’d rather have a 1% pay cut when prices fall by 3% than a 5% pay increase when the rate of inflation is 8%.” This is an example of:

A: Irrationality

B: Rising real wage

C: Deflation always being better than inflation

D: Excessive aggregate demand