If a Demand Shock Causes the Economy to Move to a Real

question 115

Multiple Choice

If a demand shock causes the economy to move to a real GDP level that is below its full employment level,then

• A) we refer to this as a positive demand shock.
• B) the economy will remain at this point in the long run.
• C) the AS curve will adjust in the long run until the economy returns to full employment.
• D) the AD curve will move back to its original position in the long run.
• E) the unemployment rate will decline.

Critically assess contractual disputes involving quality and suitability of goods in specific cases.

Apply the principles of the Sale of Goods Act to advise parties in complex contractual disputes.

Understand the environmental challenges associated with packaging and labeling.

Grasp the concept and stages of the product life cycle, including strategies for each stage.

---

Definitions:

Inborn Potential

The inherent capacity or natural ability present from birth that can develop into talents or skills with encouragement and practice.

Abraham Maslow

An American psychologist known for creating Maslow's hierarchy of needs, a theory of psychological health predicated on fulfilling innate human needs in priority, culminating in self-actualization.

Self-Actualization

The realization or fulfillment of one's talents and potentialities, considered as a drive or need present in everyone, the highest level in Maslow's hierarchy of needs.

Self-Actualization

The achievement of realizing one's abilities and possibilities, seen as an inherent motivation or necessity in all individuals.