If Real GDP Is Greater Than Potential GDP, the Economy

question 131

Multiple Choice

If real GDP is greater than potential GDP, the economy is

• A)not in short-run equilibrium.
• B)in a recessionary equilibrium.
• C)in an above full-employment equilibrium.
• D)in a below full-employment equilibrium.
• E)in long-run equilibrium.

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Definitions:

Flexible Working Hours

Give employees some choice in the pattern of daily work hours.

Absenteeism

The habit or practice of frequently being absent from work or obligations without good reason, leading to potential disruptions and decreased productivity.

Autonomy

The capacity of individuals or groups to make independent decisions and control their own activities, often empowering creativity and innovation.

Telecommuting

A work arrangement in which employees perform their job duties from outside the traditional office environment, often from home, leveraging digital technologies.