Consider the Global Recession That Began in Late 2008

question 70

Multiple Choice

Consider the global recession that began in late 2008.In terms of the AD/AS model,which of the following statements best describes the macroeconomic effect on Canada's economy?

• A)The AD curve shifted to the right due to reduced demand for Canadian exports,which created a recessionary gap.
• B)The AD curve shifted to the left due to reduced demand for Canadian exports,which created a recessionary output gap.
• C)The AS curve shifted to the right due to increased factor prices,which created a recessionary gap.
• D)The AS curve shifted to the left due to increased factor prices,which created a recessionary gap.
• E)Potential GDP fell,which reduced actual national income.

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Definitions:

Recognition

Recognition involves acknowledging or giving credit to individuals or entities for their achievements, contributions, or status, often serving as a form of reward or appreciation.

Expectancy Theory

A motivational theory suggesting that people will choose how to behave based on their expectations that certain actions will lead to desired outcomes.

Motivational Perspective

An approach focusing on understanding what drives people to achieve goals, perform tasks, and engage in behaviors.

Staffing Process

The series of steps an organization follows to attract, select, train, and retain employees.