Consider the Basic AD/AS Model

question 85

Multiple Choice

Consider the basic AD/AS model.A rise in an input price like the wage rate would be expected to create a new macroeconomic equilibrium,which in comparison to the original equilibrium,has a price level that is

• A)higher and a real GDP that is higher.
• B)higher and a real GDP that is lower.
• C)higher and a real GDP that is the same.
• D)lower and a real GDP that is higher.
• E)lower and a real GDP that is lower.

Describe the principles of altruism and the motivations behind altruistic behavior.

Explain the concept of conformity and the conditions that heighten it.

Understand the phenomenon of groupthink and its implications on decision making.

Recognize the effects of group size and composition on individuals' willingness to help.

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Definitions:

Statistical Rating Organizations

Entities that provide assessments of the creditworthiness of issuers of financial instruments through ratings.

Competitive Forces

External pressures that affect an organization's ability to compete in the market, often analyzed through models like Porter’s Five Forces.

U.S. Postal Service

A federal agency responsible for providing postal service in the United States, delivering mail and packages to residences and businesses.

UPS And FedEx

UPS and FedEx are two of the largest and most well-known global courier and package delivery service companies, operating extensive networks for shipping goods.