At Long-Run Equilibrium Inflation ________ and Output Equals ________

question 128

Multiple Choice

At long-run equilibrium inflation ________ and output equals ________.

• A)equals the value determined by past expectations and pricing decisions; potential
• B)equals the value determined by part expectations and pricing decisions; the level of short-run equilibrium output consistent with that inflation rate
• C)equals the value consistent with potential output; the level of output consistent with zero inflation
• D)is stable; potential

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Definitions:

Intrinsic

Describes motivation or values driven by internal rewards, such as personal satisfaction or fulfillment, rather than external pressures or rewards.

Extrinsic

Pertaining to external factors or influences, often referring to motivation that comes from outside an individual, such as rewards or punishments.

Moral Values

Values or types of behavior that serve as a basis for ethical conduct and are formed through the influence of the family, culture, or society.

Ethical Conduct

Adherence to accepted standards of behavior or professional practice, often involving principles of honesty, fairness, and respect.