The Term Business Cycle Refers to the

question 33

Multiple Choice

The term business cycle refers to the

• A) short-term ups and downs in the price level.
• B) long-term trends in the price level.
• C) short-term ups and downs in the level of economic activity.
• D) long-term trends in the level of economic activity.

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Definitions:

Maslow's Theory

A psychological theory proposed by Abraham Maslow that suggests human beings are motivated by a hierarchy of needs, starting from basic physiological needs to self-actualization.

Characteristics of Self-Actualizers

Traits and behaviors of individuals who have achieved self-actualization, including autonomy, creativity, and a deep appreciation of reality.

Self-Determination Theory

A psychological theory of human motivation focusing on the importance of autonomy, competence, and relatedness in fostering volitional actions.

Hierarchy of Needs

A theory proposed by Abraham Maslow outlining a five-tier model of human needs, from basic physiological needs to self-actualization, each level needing to be fulfilled before moving to the next.