The Phase of the Business Cycle Where Economic Activity Is

question 123

Multiple Choice

The phase of the business cycle where economic activity is decreasing is called

• A) an economic trough.
• B) the long-run trend of gross domestic product (GDP).
• C) an economic expansion.
• D) an economic contraction.
• E) an economic peak.

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Definitions:

Alderfer's ERG Theory

A motivational theory proposed by Clayton Alderfer that categorizes human needs into three groups: Existence, Relatedness, and Growth, suggesting that more than one need may motivate at the same time.

Motivated

A state of being driven or inspired to achieve something.

Demotivated

A state of reduced motivation, often characterized by a lack of enthusiasm or interest in tasks.

Performance Goals

Are specific, measurable objectives set by individuals or teams to achieve within a particular time frame to improve their current level of performance.