In the Long Run, Increases in Potential GDP Are Possible

question 18

Multiple Choice

In the long run, increases in potential GDP are possible only if there is

• A)growth in the supply of available factors or growth in factor productivity.
• B)continuous growth in the saving rate.
• C)an increase in the unemployment rate.
• D)an increase in the general price level.
• E)no government interference with the market system.

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Definitions:

Performance Appraisal

A periodic evaluation process in which an employee's job performance is assessed by their supervisor, often influencing decisions on promotions, pay raises, and development needs.

Job Evaluation

A systematic process used by organizations to assess the relative value of jobs within the organization in order to establish fair compensation.

Job Specifications

Detailed descriptions of the qualifications, skills, experience, and attributes required to perform a specific job effectively.

Employee Qualifications

The skills, education, experiences, and certifications that individuals possess, qualifying them for particular job roles or tasks.