A Period During Which Aggregate Output Falls Is Known as A(n)

question 188

Multiple Choice

A period during which aggregate output falls is known as a(n)

• A) recession.
• B) inflation.
• C) hyperinflation.
• D) expansion.

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Definitions:

Physiological Need

A basic bodily requirement that people need to survive, such as food, water, and shelter.

Maslow Hierarchy

A theory of human motivation depicted as a pyramid, with basic needs at the base ascending to self-actualization needs at the top.

Level Of Needs

The ranked priorities of needs that individuals strive to fulfill, often depicted in a hierarchical order, such as Maslow's hierarchy of needs.

Maslow Hierarchy

A theory in psychology proposed by Abraham Maslow, categorizing human needs into a five-tier model, from basic (physiological) to higher needs (self-actualization).