Self-Correcting Mechanism Reveals That

question 150

Multiple Choice

Self-correcting mechanism reveals that

• A)real wages will increase if there is an increase in price.
• B)nominal wages will fall if there is inflationary gap.
• C)nominal wages will increase if there is recessionary gap.
• D)in the long run economy will be in equilibrium at potential GDP.

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Definitions:

Environmental Management

The process of overseeing and controlling the impact of human activities on the natural environment to ensure sustainability and conservation.

Uniform Approach

A Uniform Approach implies a standardized method or strategy adopted across an organization to ensure consistency and coherence in achieving its objectives.

Competitively

The manner of engaging in business or sports aiming to achieve superiority over opponents by offering better value, service, or performance.