In the Long Run

question 118

Multiple Choice

In the long run,

• A)GDP > potential GDP.
• B)unemployment is at its natural rate.
• C)LRAS and SRAS lie on the same line.
• D)the inflation rate is zero.
• E)the aggregate demand curve becomes flat.

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Definitions:

Performance Appraisals

The systematic evaluation of an employee's job performance and productivity, usually including feedback and discussions about future goals.

Acceptable Performance

The level of job performance considered sufficient or satisfactory by an employer, meeting the standard requirements and expectations.

Direct Subjective

An approach or assessment that is based on personal opinions, feelings, or attitudes without objective measurement.

Staffing Procedures

Processes and activities involved in identifying, attracting, evaluating, and hiring employees to fill job vacancies within an organization.