(Last Word) Which of the Following Statements Best Represents Economists’

question 275

Multiple Choice

(Last Word) Which of the following statements best represents economists’ predictions about recovery from the Great Recession?

• A)Recovery would occur quickly because of continued rapid advances in technology.
• B)Recovery would take longer than usual because the recession was preceded by a credit bubble.
• C)Recovery of output growth would be rapid, but employment growth would be slow.
• D)Bursting of the credit bubble would facilitate recovery by creating greater price flexibility.

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Definitions:

Individual Realms

Focuses on areas or fields where individual actions, choices, or behaviors are predominant.

Presumption

An assumption or belief that is taken as true without concrete evidence to support it.

Administrative Competence

Refers to the ability to effectively manage, direct, and apply administrative processes and practices.

Narrowly Diverse Culture

A narrowly diverse culture is characterized by minimal variation in cultural, ethnic, or thought diversity, often leading to homogeneity in perspectives and approaches.