An Inflationary Output Gap Would Generate Which of the Following

question 70

Multiple Choice

An inflationary output gap would generate which of the following conditions in the economy?

• A)There is an unusually small demand for labour.
• B)Workers have a relatively large amount of bargaining power with employers.
• C)Firms are making low profits.
• D)There is much idle capacity.
• E)There is downward pressure on wages.

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Definitions:

Work Standards

Established criteria or benchmarks that define the expected quality, productivity levels, and performance measures for specific tasks or jobs.

Task Completion

The act of finishing a specific duty or assignment fully, meeting all its requirements and objectives.

Performance Monitoring

The continuous process of observing and measuring the effectiveness and efficiency of an individual’s or organization’s performance.

Concern For People

Refers to the degree to which a leader or management prioritizes the welfare, needs, and interests of the employees in an organization.