Figure 17-1 -Which of the Following Is True About the Economy Depicted

question 31

Multiple Choice

Figure 17-1

-Which of the following is true about the economy depicted in Figure 17-1?

• A)It is experiencing supply-side inflation.
• B)Policy makers have chosen to fight inflation rather than unemployment.
• C)The increase in aggregate demand has increased prices but not real GDP.
• D)The slope of the aggregate supply curve embodies the trade-off between unemployment and inflation.

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Definitions:

First Impression

The initial perception or judgment one forms about another person or situation, usually based on limited information and occurring within the first few moments of interaction.

Professional Presence

The act of portraying confidence, competence, and respectability in the workplace.

Primacy Effect

The psychological principle that the first items presented in a series are most likely to be remembered.

Malcolm Gladwell

An author and journalist known for exploring the science of extraordinary achievements and the factors that contribute to success.