In the Macroeconomic Short Run

question 343

Multiple Choice

In the macroeconomic short run,

• A) actual real GDP always equals potential GDP.
• B) the unemployment rate is zero.
• C) by definition, the economy is always moving away from full employment.
• D) actual real GDP may be less than or more than potential GDP.

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Definitions:

Conflict Theory

A social theory proposing that societal structures are defined by social conflicts due to inequalities in power, resources, and status.

Functionalist

A perspective in sociology that emphasizes the importance of social structures and their role in maintaining societal stability and functionality.

Symbolic Interactionist

A perspective in sociology that focuses on the symbols and details of everyday life, understanding social interactions and the meanings individuals attach to them.

Feminist

A person who supports and advocates for the rights, equality, and social, economic, and political empowerment of women.