Scenario 14-1

question 168

Multiple Choice

Scenario 14-1. The economy is in long-run equilibrium. Suddenly, due to improved international relations and the increased confidence of policymakers, citizens become more optimistic about the future and stay this way for a long time.
-Refer to Scenario 14-1. In the short run, which of the following describes the changes that take place in the economy?

• A)Both the price level and real GDP rise.
• B)Both the price level and real GDP fall.
• C)The price level rises and real GDP falls.
• D)The price level falls and real GDP rises.

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Definitions:

Internal Labour Force

Employees who are currently working within an organization, as opposed to external candidates or contractors.

Staffing Table

A tool used in human resources planning that lists all current and projected job positions in an organization, along with other critical information such as the number of people needed for each role.

Trend Analysis

The process of comparing business data over time to identify any consistent results or trends that can be used to make business predictions.

Skills Inventory

A comprehensive list or database of the skills and competencies that employees possess within an organization, aiding in workforce planning and development.