If Potential Output Is Unknown

question 196

Multiple Choice

If potential output is unknown:

• A)we can still determine how the short-run aggregate supply curve will shift.
• B)factor prices are more likely to change.
• C)factor prices are less likely to change.
• D)we cannot determine precisely how the short-run aggregate supply curve will shift.

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Definitions:

LaPiere's Study

A research project conducted in the early 1930s exploring the relationship between attitudes and behaviors, particularly in the context of prejudice and discrimination.

Elaboration Likelihood Model

A theory in social psychology that explains how the likelihood of elaboration, or the extent to which a person carefully processes a persuasive message, influences attitude change.

Reactance

A psychological phenomenon where individuals react against restrictions on their personal freedoms by showing opposition or doing the opposite of what is being imposed.

Theory of Planned Behavior

A psychological theory that posits intention toward behavior, subjective norms, and perceived behavioral control, together shape an individual's behavioral intentions and behaviors.