Assuming the Economy Is in a Recession, Keynesian Economists Predict

question 217

Multiple Choice

Assuming the economy is in a recession, Keynesian economists predict that:

• A) wages will remain fixed.
• B) monetary policy will sell government securities.
• C) higher wages will shift the short-run aggregate supply curve leftward.
• D) lower wages will shift the short-run aggregate supply curve rightward.

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Definitions:

Behaviourally Anchored Rating Scale

A performance appraisal method that uses specific examples of behavior to evaluate employees' performance rather than subjective judgments.

Morning Bias

Morning Bias refers to the potential for decision-making or judgment to be influenced by the time of day, especially a tendency to have different cognitive processing in the morning.

Subjective Performance Measures

Evaluation metrics based on personal judgments or opinions rather than quantifiable data, often used in performance reviews.

Frame-of-Reference Training

Training designed to standardize the evaluation criteria and rating scales used by evaluators, typically in the context of performance appraisal.