In Our Macro Model,the Level of Aggregate Output Is Determined

question 24

Multiple Choice

In our macro model,the level of aggregate output is determined in the short run by ________ but in the long run by the level of ________.

• A)the output gap; factor productivity
• B)the AD curve; interest rates
• C)the AS curve; potential output
• D)the AD and AS curves; Y*
• E)the AD and AS curves; factor utilization

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Definitions:

Criterion Relevance

The degree to which a criterion used in evaluating outcomes or performance accurately reflects the essential aspects of a job or objective.

Criterion Deficiency

The part of the expected job performance that is not measured by the performance evaluation system in place.

Sales Revenue

The income generated from the sale of goods or services before any costs or expenses are deducted.

Performance Evaluations

Systematic assessments of an employee's job performance, usually including discussions about strengths and areas for improvement.