-The Data in the Above Table Show That When the |

question 370

Multiple Choice

$$\begin{array} { | l | l | l | l | } \hline \begin{array} { l } \text { Price } \\\text { level }\end{array} & \begin{array} { l } \text { A ggregate } \\\text { demand } \\\text { (trillions of } \\\text { 2005 dollars) }\end{array} & \begin{array} { l } \text { Short-run } \\\text { aggregate } \\\text { supply } \\\text { (trillions of } \\\text { 2005 dollars) }\end{array} & \begin{array} { l } \text { Long-run } \\\text { aggregate } \\\text { supply } \\\text { (trillions of } \\\text { 2005 dollars) }\end{array} \\\hline 140 & 4 & 8 & 7 \\\hline 130 & 5 & 7 & 7 \\\hline 120 & 6 & 6 & 7 \\\hline 110 & 7 & 5 & 7 \\\hline 100 & 8 & 4 & 7 \\\hline\end{array}$$
-The data in the above table show that when the price level is 120, the economy

• A) has a recessionary gap.
• B) is in a long-run macroeconomic equilibrium.
• C) will have falling money wage rates sometime in the future.
• D) has an inflationary gap.

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Definitions:

Self-efficacy

The belief in one's own ability to succeed in specific situations or accomplish a task.

Self-references

An individual's practice of relating information or situations back to oneself, often a cognitive process related to memory and identity.

Self-discrepancies

The differences between an individual's perceived actual, ideal, and ought selves, which can influence emotional states.

Self-discrepancy Theory

A theory that suggests individuals compare themselves to internal standards or the expectations of others, leading to various emotional outcomes based on perceived discrepancies.