When the Inflationary Gap Is Finally Eliminated, a Long-Run Equilibrium

question 31

Multiple Choice

When the inflationary gap is finally eliminated, a long-run equilibrium is established with a ____ price level and with GDP ____ potential GDP.

• A)higher; equal to
• B)higher; greater than
• C)lower; equal to
• D)lower; greater than

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Definitions:

Contingency Management

A behavioral intervention strategy that modifies the consequences of behaviors to increase or decrease those behaviors.

Implementation

The process of putting a decision or plan into effect; execution.

Assessment

The evaluation or estimation of the nature, quality, or ability of someone or something.

DRH

Differential reinforcement of high rates of behavior, a technique to increase the frequency of target behaviors by reinforcing them only when they occur at high rates.