In the Long Run, Output Gaps Are Eliminated By

question 42

Multiple Choice

In the long run, output gaps are eliminated by:

• A)reducing potential output.
• B)increasing potential output.
• C)price changes.
• D)increased efficiency in labor markets.

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Definitions:

Classical Conditioning

A learning process that pairs a neutral stimulus with a stimulus that naturally produces a behavior, eventually causing the neutral stimulus to elicit that behavior on its own.

Reinforced Behaviors

Behaviors that are more likely to be repeated in the future due to the application of a positive or negative reinforcement after the behavior is exhibited.

Learning Theorists

Scholars who develop theories about how people learn, focusing on the processes of acquiring, modifying, or reinforcing knowledge, skills, behaviors, and values.

Observable Behaviors

Actions or reactions of an individual that can be noticed and measured by others without inferring internal states.