Income Lost by the Unemployed Is an Example of the ________

question 153

Multiple Choice

Income lost by the unemployed is an example of the ________ cost of unemployment, while the additional spending to control crime is an example of the ________ cost of unemployment.

• A)social; psychological
• B)economic; social
• C)economic; psychological
• D)psychological; economic

Understand the role of intrinsic and extrinsic motivation in creativity and innovation.

Identify strategies to increase innovation within an organization.

Recognize the challenges and risks associated with innovation.

Understand the concept of programmed and non-programmed decisions in the context of innovation.

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Definitions:

Supply Shocks

Unexpected events that affect aggregate supply, sometimes only temporarily.

Inward

Refers to movements or directions towards the inside or center of something.

Expansionary Gap

A situation where the actual output of an economy exceeds its potential output at full employment, often leading to inflation.

Inflationary Pressure

The upward pressure on prices that may arise from factors such as increased demand or rising costs, leading to inflation.