-An Inflationary Gap Means That Short-Run Macroeconomic Equilibrium GDP

question 194

Multiple Choice

-An inflationary gap means that short-run macroeconomic equilibrium GDP

• A) equals full-employment GDP.
• B) is less than full-employment GDP.
• C) is more than full-employment GDP.
• D) may be less than, more than, or the same as full-employment GDP depending on the level of potential GDP.

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Definitions:

Intrinsic Motivation

The drive to engage in activities for their own sake and personal rewards, rather than for some external reward or avoidance of punishment.

Extrinsic Motivation

Motivation driven by external rewards such as money, fame, grades, or praise, rather than personal satisfaction or interest.

Intrinsic Motivation

The drive to engage in an activity for its own sake and for personal satisfaction, rather than for some external reward.

Rewarding Act

An action that is positively reinforced, leading to the likelihood of the behavior occurring again in the future.