Assume That Full-Employment Real GDP Is Y = $1,200 Billion

question 165

Multiple Choice

Assume that full-employment real GDP is Y = $1,200 billion, the current equilibrium real GDP is Y = $1,600 billion, and the MPC = 0.8. In order to bring the economy to a full-employment real GDP,

• A)a recessionary gap must be bridged by increasing aggregate expenditures by $80 billion.
• B)an inflationary gap must be bridged by cutting aggregate expenditures by $80 billion.
• C)nothing is needed to bring the economy into full employment equilibrium.
• D)a recessionary gap must be bridged by increasing aggregate expenditures by $400 billion.
• E)an inflationary gap must be bridged by cutting aggregate expenditures by $400 billion.

Understand the principles behind job simplification and its outcomes on employee engagement and organizational efficiency.

Acknowledize the role of motivation theories in job design and performance appraisal.

Understand the principles and objectives of scientific management in job design.

Identify the key elements and limitations of job enrichment, job enlargement, and job rotation strategies in work design.

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Definitions:

Extracurricular Activities

Activities pursued by students outside of the standard academic curriculum that may include sports, clubs, music, and arts.

Adult Supervision

The oversight provided by an adult to monitor, guide, and ensure the safety and well-being of children or teenagers during certain activities or environments.

Peer Group

A group of individuals, usually of a similar age, background, or social status, with whom a person associates and identifies.

Mass Media

Various mediums of communication, such as television, radio, newspapers, and the internet, used to disseminate information to large audiences.