Design Functions,like Mathematical Functions,are Not

question 19

Multiple Choice

Design functions,like mathematical functions,are not:

• A) One-to-many relations
• B) Accessible relations
• C) Intentional relations
• D) Artifacts

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Definitions:

Equilibrium GDP

The level of Gross Domestic Product where aggregate supply equals aggregate demand in an economy.

Full Employment GDP

The output level produced by the economy when all available resources are efficiently employed, representing potential GDP under full employment.

Multiplier

In economics, a factor that quantifies the impact of spending changes in an economy, particularly the increase in income or economic activity resulting from an injection of spending.

Deflationary Gap

A situation where aggregate demand is less than the total supply of goods and services, leading to deflation and unemployment.