Suppose There Is a Small Change in the Rate of Productivity

question 39

Multiple Choice

Suppose there is a small change in the rate of productivity growth.What would be the effects on output in the short run and long run?  

• A) a small effect on output in the short run, and a small effect on output in the long run 
• B) a large effect on output in the short run, and a large effect on output in the long run 
• C) a small effect on output in the short run, but a large effect on output in the long run 
• D) a large effect on output in the short run, but a small effect on output in the long run

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Definitions:

Arbitration

A method of dispute resolution where an impartial third party, the arbitrator, makes a decision that is usually binding on the parties.

Grievance Procedures

Formalized means by which employees can submit complaints or disputes for resolution by the organization, following specific steps.

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To request or seek for something, often by direct appeal or plea.