In the New Classical Model,stabilization Policies

question 48

Multiple Choice

In the new classical model,stabilization policies

• A)cannot affect output and employment in either the short run or the long run.
• B)affect output and employment only in the short run.
• C)have no effect on output and employment,even in the short run.
• D)affect output and employment only in the long run.

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Definitions:

Mayo's Research

Refers to the studies conducted by Elton Mayo, particularly the Hawthorne Experiments, which emphasized the importance of social relations in the workplace.

Productivity

The measurement of efficiency in which resources are converted into goods and services, often evaluated by output relative to input.

Deficit Principle

A concept in motivation theory suggesting that a deficit or lack of something will lead to motivation to fill or reduce that deficit.

Deficit Principle

A concept in motivational theory that suggests people are motivated to satisfy deprived needs that are in a deficit state.