During a Recession

question 75

Multiple Choice

During a recession,

• A)real GDP is equal to potential GDP.
• B)real GDP is less than potential GDP.
• C)real GDP is greater than potential GDP.
• D)the relationship between real GDP and potential GDP no longer exists.
• E)the actual unemployment rate is less than the natural unemployment rate.

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Definitions:

Legitimate Power

Refers to the authority an individual holds as a result of their position or role within an organization, perceived as rightful by members.

Managers

Individuals who are responsible for planning, organizing, leading, and controlling an organization's activities to achieve its goals.

Right

This term in isolation is too broad; in a specific context, it could refer to an entitlement, legal protection, or moral principle that is recognized and upheld in a social system.

Authority

The power or right to give orders, make decisions, and enforce obedience within an organizational or social hierarchy.